Chinese beer maker Beijing Yanjing Brewery, one of China’s top three brewers, has posted a 20% increase of its 2003 net profit up to ¥241.9 million versus last year. The increase was attributed to the improved sales and reduced cost, which boosted the balance sheet. The company reported pretax earnings of ¥337.5m, up 43% from ¥235.4m in 2002. Revenue’s were up by close to a quarter to ¥3.43 billion in the year. Medium and high-priced beer accounted for more than one-fifth of its total production, Beijing Yanjing Brewery said. The company has had success in expanding its traditional sales territory of Beijing.

16 March, 2004