TSINGTAO Brewery Co, China's biggest brewer by output, said first-half profit rose 23 percent, as the soccer World Cup spurred sales in the largest global beer market and financial expenses fell.

Net income rose to 212.7 million yuan (US$26.7 million), or 0.16 yuan a share, from last year's 173.6 million yuan, or 0.15 yuan, Tsingtao said in a stock exchange filing yesterday. Sales jumped 16 percent to 5.77 billion yuan. The company won't pay an interim dividend.