(Yicai Global) July 29 -- Budweiser Brewing APAC’s net profit in the Asia-Pacific region leaped 170 percent in the first half from the same period last year on the back of recovering beer consumption in China.

The world’s biggest brewer raked in USD500 million in the six months ended June 30, according to the Hong Kong-based company’s first-half earnings report released yesterday. Sales jumped almost 22 percent in China, buoyed by increasing demand for high-end products.

Revenue soared 26 percent across the region to USD3.48 billion, as beer sales rose amid a rapid recovery from the Covid-19 pandemic. Budweiser APAC’s revenue per hectoliter also increased 9.7 percent, per the report.

Production at Chinese brewers gained almost 19 percent to 15 million kiloliters from January to May, after it had been dropping from 2013 to last year, per statistics from the China Alcoholic Drinks Association.

China Resources Beer, which has the largest market share in the country, said on July 19 that its net profit rose 37.5 percent in the first half to CNY2.86 billion (USD442.5 million).

Zhujiang Brewery Group on July 15 said it expected earnings of between CNY295 million and CNY344 million (USD45.6 million and USD53.3 million), a gain of 20 percent to 40 percent. Growth was due to the higher sales and a better product mix, it added.

Editors: Liu Xiaojie, Futura Costaglione