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China Resources Enterprise Ltd, the country’s biggest beer maker, on Thursday posted an 18.4 percent drop in third-quarter profit amid rising costs.

“Uncertainties surrounding the global economy have affected consumer sentiment in China, which in turn has put pressure on the group’s consumer goods business in the near term,” said Chairman Qiao Shibo in a statement.

The company, which produces China’s top beer brand Snow with one of the world’s largest brewers SABMiller Plc, said profit for the third quarter fell to HK$863 million ($110.9 million), from HK$1.06 billion profit a year earlier.

Along with the urban maintenance and construction tax and education surcharges imposed on foreign enterprises since the end of 2010, an increase in labour costs and an acceleration of retail network expansion had affected earnings, it said.

Profit from food dropped 32.2 percent, and beverages fell 26.2 percent. The beer division posted a 1.5 percent gain.

In August, China Resources Enterprise had said cost pressures would continue to rise for the remainder of the year, but its profit margin should remain at the same level as the first half.

Sales from the beer division were up 19.3 percent at HK$9.27 billion. The food business jumped 35.9 percent to HK$2.88 billion, and beverages climbed 45.4 percent to HK$1.1 billion.

The company said beer sales for the first nine months of 2011 rose 24.1 percent to HK$22.1 billion, while profit rose 10.1 percent to HK$863 million.

The company, which operates about 80 breweries in China, said it would strengthen cooperation with suppliers and reinforce its centralised purchasing system to stabilise raw material costs.