Chinese liquor giant expects profit surge
Wuliangye Yibin Co. , one of China's top liquor makers, on Sunday forecast a nearly 90% surge in net profit for the third quarter, thanks to strong sales and price rises, state-run news agency Xinhua reported.
Net profit is expected to reach between 2.74 billion yuan and 2.76 billion yuan ($437.2 million and $440.4 million), up 88.3% to 89.6% from the same period in 2011, the company said in a statement to the Shenzhen Stock Exchange, where it is listed.
Xinhua reported that Wuliangye Yibin forecast CNY7.79 billion to CNY7.81 billion yuan in net profit for the first three quarters, a more than 60% increase from a year earlier.
The company attributed the profit gain to a marked increase in sales revenues and price increases implemented late last year. The liquor brand raised the prices of its spirits by between 20% and 30% in September 2011. |
发表于 2012-10-14 17:23
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