July 13 -- Xin Jiang Hops (600090) forecasted a 70 percent year-on-year growth in first half 2011 net profit, reports p5w.net, citing a company filing.

The brewer generated net profit of 17.31 million yuan, with earnings per share of 0.047 yuan, in the same period a year ago.

According to the company, it benefited from a reduction in impairment losses and an increase in sales from a subsidiary in Tibet.