OREANDA-NEWS. March 30, 2012. For the year ended 31 December 2011, consolidated turnover rose by 26.4% to HKD 110,164 million, mainly driven by record high turnover of retail and beer businesses, reported the press-centre of China Resources.

Excluding the after-tax effect of asset revaluation and major disposals, underlying consolidated attributable profit contributed by the core businesses decreased by 0.3% to HKD 1,889 million.

Including other businesses and exceptional adjustments, consolidated profit attributable to shareholders amounted to approximately HKD 2,832 million, representing a decrease of 50.1%.

Beer division achieved annual sales volume of over 10 million kiloliters for the first time. It recorded turnover of HK\\$26,689 million and attributable profit of HKD 785 million, representing increases of 23.9% and 14.6% respectively.

Retail division expanded its market share with turnover of HKD 70,088 million, representing an increase of 27.1%. Excluding the revaluation surplus, the attributable profit decreased by 2.7%, reflecting both the impact of expenses and its efforts in absorbing them.

The Board recommended a final dividend of HKD 0.32 per share, bringing the total dividend for 2011 to HKD 0.47 per share.

Mr. Chen Lang, Chief Executive Officer of the Company, said, “During the year under review, the imposition of the Urban Maintenance and Construction Tax and Education Surcharges on foreign enterprises since the end of 2010, higher labour costs and the accelerated expansion of our retail network into new regions have raised cost pressures and affected the Group?s results. However, we continued to grow steadily in 2011 as we further expanded our core businesses through new acquisitions and organic growth, and strengthened our market-leading position in China. Beer sales volume reached its record high in particular, achieving economies of scale and improvement in average selling prices.”

About China Resources Enterprise, Limited
China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange and is one of the constituent stocks of the Hang Seng Index in Hong Kong. The Group focuses on the consumer businesses, including retail, beer, food and beverage in China.