The Chinese biggest brewer, Tsingtao, expects net profits to more than double for the first nine month of the current year compared to last year, a report form Datamonitor.com reveals. According to the same report, the company has registered for the first half of 2002 a net profit rise of 64% to $13.7 million and a sales rise of 30.5% year-on-year. The company’s output increased by 27% to 1.525 million tonnes.

Tsingtao was founded in 1903 by German interests, and its major shareholder with about 45% of shares, the Chinese government. Since 1997 Tsingtao has purchased 40 breweries, many of them loss making, and the company faces a constant challenge to integrate them and realize cost savings and expand its margins.

Although the company has not specified any figures, July news is, that Tsingtao is in talks with the world’s biggest brewer, Anheuser-Busch, which has helped fuel a rise in its stock price over 60% in the past year. Anheuser is thought to be considering boosting its 4.5% stake in the company to around 25%.