China: China Resources Beer reports increase in net income in H1 2024

China Resources Beer (Holdings) Company Limited reported earnings results for the half year ended June 30, 2024. For the half year, the company reported sales were CNY 23,744 million compared to CNY 23,871 million a year ago. Net income was CNY 4,705 million compared to CNY 4,649 million a year ago.

Basic earnings per share from continuing operations was CNY 1.45 compared to CNY 1.43 a year ago.

The company’s beer business outperformed major competitors despite a slight decline in overall beer sales volume, achieving a record high EBIT margin of 28.3%.