Bottom lines of China consumer firms paint patchy picture of spending

Shanghai

OFFICIAL numbers may suggest a rosier 2017 for China, but the bottom lines of the country's top consumer firms - from brewers to noodle makers and cinema chains - paint a patchy picture of spending in the world's second-largest economy.

Tsingtao Brewery Co Ltd, China's No 2 brewer, posted its steepest drop in net profit in 20 years last week, blaming tough competition and weak demand. Noodle maker Tingyi saw profits drop by a third.