Thursday, March 06, 2008

Chinese brewer Yanjing 2007 profit jumps 33.19%

Beijing Yanjing Brewery Co Ltd<000729> saw its 2007 net profit soared 33.19% from the previous year despite a rising cost for the raw materials, according to the company's annual report released yesterday.

The company contributes the growth to the facts that it sold more premium products and raised prices of six products in December to offset the surging raw material costs.

The Shenzhen-listed brewer said it would continue to raise prices of select products in certain regions, and gradually move into upstream production processes in a bid to reduce the pressure from the rising costs,

In addition, it will establish barley processing operations in Xinjiang and Inner Mongolia Autonomous Region and boost sales of high-end products, according to the report.

Yanjing, which dominates an 85% market share of the Beijing beer market, aims to double its current sales volume by 2015.

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