20 September, 2005

China: Kingway registers net profit increase of 15.1% for the first half 2005

Kingway, the Chinese brewer where Heineken holds a 21% stake, said on September 16 that its H1 net profit rose by 15.1% from the same period 2004. This was communicated in a brief statement filed to the Hong Kong Stock Exchange.

Net profit for the six months ended June totaled HK$80.61 million, up from HK$70.06 million in the year-earlier half. Revenue rose to HK$516.36 million from HK$399.15 million.

Kingway gave no explanations for its earnings growth.

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