Yanjing Brewery Q1 net profits hit RMB 20.9 mln

Beijing Yanjing Brewery (Yanjing Brewery)<000729>, one of the largest beer groups in the country, announced on Monday that its net profits went up 31.42% to RMB 20.9 million in the first quarter.

The company realized a beer sales volume of 740 thousand kiloliters in the first quarter, up 9% from the same period of 2007. Its sales income rose 16.42 % to RMB 1.71 billion. Its total assets amounted to RMB 11.5 billion, up 5.6% over the previous year. Basic earnings per share increased 100% to RMB 0.02, according to its quarterly report.

Yanjing Brewery also revealed that despite the surging raw material prices, the company further promoted its brand construction, marketing and cost management in the first quarter, resulting in efficient energy consumption and cost saving.