Tsingtao reports slim growth in H1

Tsingtao Brewery Co Ltd, one of the leading brewers in China, on Aug 15 reported a half-year revenue of 13.41 billion yuan ($2.11 billion), up 11.2 percent year on year.

The net profit during the period was 1 billion yuan, up 1.77 percent from a year earlier. The total sales volume was 4.18 million kiloliters, up 11.3 percent year on year.

The domestic beer market experienced slower growth in the first half amid the economic slowdown and affected by negative factors like low temperatures.

In the first half, Tsingtao Brewery produced 23.99 million kiloliters of beer nationwide, an increase of 4.85 percent from the same period of last year.

The company's brewery plant with an annual capacity of 200,000 kiloliters in Jiujiang, Jiangxi province, has started construction in the first half. A new factory located in Jieyang, Guangdong province, has also started operations and can produce 300,000 kiloliters of beer a year. Its other plants in Shanghai and Shandong province have started operations as well, money.163.com reported on Aug 15.

Tsingtao Brewery ranked second in terms of sales volume, after China Resources Snow Brewery Co, which had a market share of 21 percent in 2011 with annual sales of 10.23 million kiloliters of beer. Tsingtao Brewery reported a sales volume of 7.15 million kiloliters in 2011, and it aims to reach the target of 10 million kiloliters in 2014, according to money.163.com.