China Resources Beer Holdings Co Ltd disclosed a notable surge in its net profit for the fiscal year 2023, attributing the growth to heightened beer sales buoyed by the relaxation of pandemic-related restrictions, which bolstered overall business operations.
According to the company’s latest financial statement released on Monday, net profit surged by 18.7% to reach 5.15 billion yuan ($715.7 million) for the year. This substantial increase was accompanied by a robust 10.4% rise in consolidated revenue, which reached CNY38.93 billion.
In a strategic move aimed at rewarding its shareholders, China Resources Beer announced its intention to distribute a special dividend of CNY0.300 per share. This dividend, combined with previous payouts, results in an overall 2023 dividend payout of CNY0.936 per share.
In its outlook statement, the company emphasized the ongoing significance of China’s economic recovery, highlighting that while the nation’s economic resurgence remains in a critical phase, the long-term trajectory continues to exhibit positive momentum.
China Resources Beer’s robust financial performance in 2023 underscores its resilience amid challenging market conditions and positions the company favorably to capitalize on future growth opportunities within the evolving beverage industry landscape.
