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Yanghe Brewery reports 88.82% surge in Q1 net profit

Apr. 23, 2012 (China Knowledge) - Jiangsu Yanghe Brewery Ltd<002304>, a liquor producer and seller, has announced that its net profit jumped 88.82% year on year to RMB 2.21 billion in the first quarter of this year.

The net profit in the first three months has exceeded the RMB 1.81 billion net profit recorded in the first half of 2011.

The Shenzhen-listed company attributed the robust growth in net profit to a significant increase in sales revenue and higher market share.

Yanghe Brewery realized RMB 5.96 billion in operating revenue in the first quarter, 64.06% more than in the same period of last year.

The liquor producer estimated that its net profit would grow between 50% and 70% year on year in the first half of this year.

In 2011, the company's net profit rose 82.39% year on year to RMB 4.02 billion, and earnings per share were RMB 4.47.

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