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Jiangsu Yanghe Brewery posts near 70% profit jump for H1

Aug. 25, 2011 (China Knowledge) - Jiangsu Yanghe Brewery JSC Ltd<002304>, a liquor producer and seller in China, booked RMB 1.81 billion in net profit attributable to shareholders in the first half of this year, surging 69.9% from a year earlier.

In a statement, the Shenzhen-listed firm's earnings per share soared 69.75% year on year to RMB 2.02.

The company's operating revenue jumped 76.99% year on year to RMB 6.17 billion in the first half of 2011, including RMB 5.47 billion from sales of medium and high-end liquor products, up 80.41% from a year earlier. But gross margin of such kind of products stood at 63.47%, 2.14 percentage points lower than in the first half of last year.

The medium and low-end product sales totaled RMB 641 million with gross margin of 6.57% in the first half of 2011.

Jiangsu Yanghe Brewery also aims to have a year-on-year net profit increase of 50% to 70% for the first nine months of this year.

The Jiangsu Province-based liquor producer has announced plans to start four projects, which include technology upgrading, packaging and logistics center setting, with a total investment of RMB 4 billion.

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