News Column

Lanzhou Huanghe Profits Surge

August 7, 2014

SHANGHAI, August 7, SinoCast -- Lanzhou Huanghe Enterprise sees beer output and sales continue decline, but its profit went up sharply year on year as the company marches into high-end beer field and lowers marketing costs.

The company's output and sales were down 17% and 19% in the first six months; malt sales were down 20%. It gained CNY 450 million incomes in the first half, down 10% year on year.

In the meantime, beer and malt profits surged. The company achieved CNY 14.31 million net profits attributable to parent, up 22.6% year on year. Beer profits went up 69% and malt profits went up 192%.

Lanzhou Huanghe's breweries in Lanzhou, Tianshui, Qinghai and Jiuquan are 50-50 ventures set up with Carlsberg.

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Source: Sinocast Consumer Products Beat (China)

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