Biz Scene: Market

Liquor gains

Chinese liquor maker Sichuan Swellfun Co said profit for the first nine months of the year will probably more than double from a year earlier as consumer demand surges.

Net income for the first nine months may rise to 120 million yuan from 54.8 million yuan a year earlier, Swellfun said yesterday in a preliminary earnings statement to the Shanghai Stock Exchange. The profit increase was fueled by rising sales and income from real estate investments, it said.

Profit doubles

New World Department Store China Ltd, a unit of billionaire Cheng Yu-tung's New World Development Co, said full-year profit almost doubled.

Net income for the 12 months ended June 30 rose to HK$302.8 million from HK$157.9 million, the company said in a statement to the Hong Kong stock exchange yesterday. Profit included a HK$58 million gain from the disposal of subsidiaries. Sales rose 31 percent to HK$982.2 million from HK$749.9 million.

(China Daily 10/11/2007 page15)