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Moutai has reason to cheer as profits rise

By Yang Ziman | | Updated: 2013-10-16 17:31

Kweichow Moutai Co Ltd, a leading manufacturer of white spirits, saw 11.07 billion yuan ($1.8 billion) in net profits in the nine months ended in September, according to its third-quarter profit statement released on Tuesday.

The profits are up 6.24 percent year-on-year.

Operational income in the third quarter amounted to 7.8 billion yuan, up 7.1 percent from the same time last year.

Deposits received were 1.9 billion yuan by late September, dropping 61.85 percent from the beginning of the year mainly because of the downsized advance payment from dealers.

"Deposits received have been a major source of income for manufacturers of spirits," said Xue Yuhu, beverage analyst with Hua Chuang Securities Co Ltd.

If deposits received are counted as income, then total income in the third quarter would be 40.9 percent higher from the same period last year, which means that opening up of the dealership of the brand has been effective, Xue added.

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