China Resources Beer 2023 Net Rose on Higher Sales

By P.R. Venkat

China Resources Beer's 2023 net profit rose due to higher beer sales as the lifting of pandemic-related restrictions supported overall business.

Net profit rose 18.7% in the year to 5.15 billion yuan ($715.7 million), while consolidated revenue grew 10.4% to CNY38.93 billion , the company said Monday.

China Resources Beer also announced that it planned to pay a special dividend of CNY0.300 per share, bringing the overall 2023 payout to CNY0.936 per share.

"The recovery of China's economy is still at a critical stage, and the long-term trend remains positive," it said.

Write to P.R. Venkat at [e-mail]

(END) Dow Jones Newswires

03-18-24 0057ET