China: Chongqing Brewery posts 99.42% gain in 2010 net profits

China’s Chongqing Brewery posted a 99.42 percent gain in 2010 net profits to 360 million yuan, 163.com reported on March, 24, citing a company filing.

Sales revenues rose 5.08 percent to 2.38 billion yuan and basic earnings per share grew 102.7 percent to 0.75 yuan.

The firm is aiming for sales revenue of 2.55 billion yuan in 2011.

It plans to distribute cash dividends of three yuan for every 10 shares held.

Chongqing Brewery plans to authorize the use of the Shancheng brand to Chongqing Brewery Group for 800,000 yuan. In 2009, the brand contributed 60.82 percent of company’s total sales revenues.

25 March, 2011