Kweichow Moutai growth declines on slow deliveries

Share price of liquor maker slips but consumption upgrades to buoy future prospects

Kweichow Moutai Co Ltd, China's signature high-end spirit maker, reported slower profit growth in the third quarter, as lower deliveries and an overall market slowdown had dampened growth.

Sales totaled 18.85 billion yuan ($2.71 billion) in the third quarter, up 3.82 percent year-on-year, and net profit reached 8.97 billion yuan in the period, edging up 2.71 percent year-on-year, according to the company's latest earnings report.