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Yanghe Brewery expects 60% up in H1 profit

Jul. 13, 2012 (China Knowledge) - Jiangsu Yanghe Brewery Ltd<002304>, a liquor producer and seller, expects its net profit to grow about 60% to 80% YoY in the first half of this year, mainly due to the robust sales.

The company said in a statement that its net profit was estimated at between RMB 2.9 billion and RMB 3.26 billion, more than earlier expected.

While, in the first half of 2011, the company booked RMB 1.81 billion in net profit, up 70% than a year earlier.

In the first quarter of this year, the liquor producer saw its operation revenue rose 64.06% YoY to RMB 5.96 billion, and its net profit surged 88% from a year earlier to RMB 2.21 billion.

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