China: Tsingtao Brewery’s net profit up 18% in Q3

Tsingtao Brewery Co. reported its net profit rose in the third quarter, buoyed by higher sales, the Morningstar reported on October 27.

The brewer said late on October 26 its net profit rose 18% on year to 1.41 billion Chinese yuan ($196.6 million) in the third quarter.

Revenue rose 16% on year to CNY9.84 billion in the quarter, the brewer said.

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