Tsingtao soars on rising beer demand

As previously reported, beer consumption in the People’s Republic of China is up – WAY up. And Tsingtao Brewery Co Ltd, China’s best known beer brand, is leading the campaign. Tsingtao posted a 63.4 percent increase in first-half of ’07, as rising Chinese incomes boosted demand for beer and a taste for more expensive brews. The brewery, which is partially owned by top U.S. beer maker Anheuser-Busch Cos. Inc, saw a net income increase to 347.57 million yuan ($45.92 million USD) from January-June, up from 212.74 million yuan a year earlier. Tsingtao hopes to maintain a 12 percent sales growth this year, against an 11.5 percent gain in 2006.