By Yi Wei Wong
Nongfu Spring Co. said its net profit rose in 2022, thanks to better beverage sales.
The Hong Kong-listed bottled-water and drinks distributor said that its net profit rose to 8.50 billion Chinese yuan ($1.24 billion), compared with CNY7.16 billion a year earlier.
The company's revenue rose to CNY33.24 billion, compared with CNY29.70 billion a year earlier, it said.
Nongfu Spring expects China's consumer market to continue recovering in 2023 following the easing of strict pandemic measures.
Write to Yi Wei Wong at yiwei.wong@wsj.com
(END) Dow Jones Newswires
03-28-23 2003ET