Kweichow Moutai 2011 preliminary profit up 65%
Updated: 2012-01-18 09:30
BEIJING - Kweichow Moutai Co, China's most prestigious white liquor producer, said Tuesday that its 2011 preliminary net profit will rise more than 65 percent year-on-year.
In a brief statement filed to the Shanghai Stock Exchange, Kweichow Moutai attributed the robust profit growth to rising prices and sales volumes.
The company raised its prices by at least 20 percent in 2011. The ex-factory price of 53-degree Feitian Moutai, a high-end white liquor in the company's product range, had risen to 1,800 yuan (about $286) per bottle by the end of last year.
Kweichow Moutai ranked fourth on the 2012 list of the Top 10 World Luxury Brands released by Hurun Report Inc, following Louis Vuitton, Hermes and BMW.
The company's net profit hit 5.05 billion yuan in 2010. Earnings per share stood at 5.35 yuan, according to the statement.
The company's shares climbed 1.71 percent to close at 180.44 yuan on Tuesday.
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