Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : CHIF - China Food and Beverage, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (95)	6/14/1999 10:15:00 AM
From: T A P	Read Replies (4) \| Respond to of 127

China Food and Beverage Company Reports First Quarter Results for Brewery Operations NEW YORK, June 14 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced today pre-tax earnings of $280,000 for the first quarter ended March 31, 1999. The earnings reflected a 700% increase compared to the first quarter 1998. The company also reported net sales of $1.7 million for the first quarter, an increase of over $400,000 compared to last year's first quarter. James Tilton, president of CHIF stated, "We are extremely pleased with the growth of our brewery operations thus far in 1999. The outlook for the future also appears bright. In a December 14, 1998 Forbes Magazine article, Hong Kong based beer industry consultants are quoted as stating that 'China's growing thirst for beer has been remarkable. Since 1982 consumption has multiplied tenfold and China's share of world consumption has surged from 6% in 1990 to 14% in 1998.' According to Forbes the Chinese market has already surpassed Germany in volume terms and should overtake the United States within five years. Given this outlook, CHIF continues to review a number of potential acquisition candidates which could further increase its presence in China." China Food and Beverage Co. is a U.S. holding company whose strategy is the acquisition of regional Chinese breweries that complement its existing business, distribution and product lines. For further information on China Food and Beverage Co., contact Investor Relations at 800-641-5844 or visit the company's web site, chif.net . This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the ability of China Food and Beverage Co. to accomplish its stated plan of business. Although China Food and Beverage Co. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumption could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Co. or any other person that the objectives and plans of China Food and Beverage Co. will be achieved. SOURCE China Food and Beverage Company CO: China Food and Beverage Company; Victoria Beverage Company Ltd. ST: New York T A P has received 5K shares of restricted stock of CHIF from the company for services provided for a period of 1 year. For a complete write-up on CHIF and other Turn Around Picks and to join free, go to T A P profile for url.