04 November, 2005

China: Chongqing Brewery recorded a 34% increase in net profit for Q3 2005

Chinese beer maker, Chongqing Brewery Co. has recently announced that it has registered a net profit of CNY24.15 million (US$2.99 million) for the third quarter 2005, an increase of 34% compared to the same period last year when the company registered a net profit of CNY18.02 million in the same period last year.

The brewery attributed the rise to an increase of revenue by 23.5 % up to CNY549.92 million from CNY445.42 million in the third quarter 2004.

Scottish & Newcastle holds a 19.5% stake in Chongqing in the form of nontradable shares through its unit S&N Asia Pacific Ltd.

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