China's top liquor brand reports strong growth in first three quarters

GUIYANG -- China's top alcohol brand Kweichow Moutai saw its sales revenue increase by 10.31 percent year-on-year in the first three quarters of this year, according to the company on Monday.

Its sales revenue during the period reached more than 67.2 billion yuan (about $10.05 billion), with the net profit exceeding 33.8 billion yuan, up 11.07 percent year on year.

Compared with the previous two quarters, the liquor brand's growth rate of sales revenue and net profit slowed down in the third quarter. Its sales revenue rose 7.18 percent year on year to 23.9 billion yuan, while the net profit grew 6.87 percent to over 11.2 billion yuan.

Distilled in the town of Maotai in southwest China's Guizhou Province, Moutai is one of the country's leading liquor brands and often served at state banquets.

Despite its high price, domestic demand for Moutai has always exceeded supply.