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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Resources Beer Holdings Co Ltd    0291   HK0291001490

CHINA RESOURCES BEER HOLDINGS CO LTD

(0291)
  Report  
End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 08/19
41 HKD   +4.59%
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China Resources Beer : brewer Tsingtao annual profit rises 12.6 percent, matches forecast

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03/28/2019 | 08:26pm EDT
FILE PHOTO: Bottles of Tsingtao beer are placed on shelves at a supermarket in Shanghai

HONG KONG (Reuters) - China's second-largest beer maker Tsingtao Brewery Co Ltd posted a 12.6 percent rise in 2018 net profit, helped by its efforts to control costs, prevent excess production, enhance product mix and boost efficiency.

The iconic Chinese beer maker, which competes with larger local rival China Resources Beer (Holdings) Co Ltd, made a net profit of 1.42 billion yuan ($210.7 million) for the January to December period, versus 1.26 billion yuan a year earlier, the brewer said in a filing to the Hong Kong bourse late on Thursday.

That compared with an average forecast of 1.41 billion yuan by 15 analysts, according to estimates compiled by Refinitiv. It was the highest profit since 2015 when it reported profit of 1.71 billion yuan.

Tsingtao posted sales of 26.58 billion yuan, up slightly from 26.28 billion yuan a year ago. That was compared with an average forecast of 26.2 billion yuan for 2018.

Chairman Huang Ke Xing said demand for premium, imported and craft beers was growing rapidly.

"There is certain potential in increasing the profit and sales of the Chinese beer industry through the further optimisation of capacities as well as adjustments in product structure and pricing," Huang said in the statement.

China is the world's largest beer market by sales but firms have found it challenging to deliver profits due to fierce competition between local brewers and global beer giants.

The country's top brewer, China Resources Beer, posted a 16.9 percent fall in 2018 profit.

(Reporting by Donny Kwok; Editing by Stephen Coates)

Stocks mentioned in the article
ChangeLast1st jan.
CHINA RESOURCES BEER HOLDINGS CO LTD 4.59% 41 End-of-day quote.50.74%
TSINGTAO BREWERY CO LTD 1.95% 51.65 End-of-day quote.45.32%
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Financials (HKD)
Sales 2019 38 248 M
EBIT 2019 3 603 M
Net income 2019 2 255 M
Finance 2019 2 890 M
Yield 2019 0,63%
P/E ratio 2019 57,2x
P/E ratio 2020 38,3x
EV / Sales2019 3,40x
EV / Sales2020 3,13x
Capitalization 133 B
Chart CHINA RESOURCES BEER HOLDINGS CO LTD
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Technical analysis trends CHINA RESOURCES BEER HOLDI
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 39,19  HKD
Last Close Price 41,00  HKD
Spread / Highest target 18,0%
Spread / Average Target -4,41%
Spread / Lowest Target -41,5%
EPS Revisions
Managers
NameTitle
Xiao Hai Hou Chief Executive Officer & Executive Director
Lang Chen Chairman
Po Sing Lai CFO, Secretary & Executive Director
Kwing Chue Siu Independent Non-Executive Director
Ni Hium Lai Non-Executive Director
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