Home | About Us | Textile Machinery | Auto Mobile | Medica | Other | News | Show expired | Contact Us
Location:Jcfairs.com -> News -> Kweichow Moutai Third-Quarter Profit Gains 22% on Higher Prices

Kweichow Moutai Third-Quarter Profit Gains 22% on Higher Prices

Author:id218  Source:www.jcfairs.com  Published:2008-10-27 11:19:02  
Kweichow Moutai Co., the maker of the fiery spirit served at Chinese government banquets for toasts to visitors, said third-quarter profit increased 22 percent after it raised prices and sales increased.

Net income climbed to 905.2 million yuan ($132.1 million), or 0.96 yuan a share, from 740.8 million yuan, or 0.78 yuan, a year earlier, the Guizhou province-based company said in a statement to Shanghai's stock exchange today. Sales rose to 1.87 billion yuan from 1.83 billion yuan.

Moutai raised prices an average of 20 percent in January after an increase of 12 percent last year because of rising demand. The stock has dropped 57 percent this year after more than doubling in 2007.

``The company always performs well in the third quarter because of the mid-Autumn festival, which people like to celebrate with the drink,'' said Zhang Yun, an analyst at Huatai Securities Co. Zhang spoke before the earnings statement.

Moutai, made from sorghum and produced in Moutai Village near China's Red River, has been used to toast dignitaries including Richard Nixon, former U.K. Prime Minister Margaret Thatcher and former North Korean leader Kim Il Sung.

 Up_JCFAIRS:HOSPITALAR 2009 Dn_JCFAIRS:TEXTIL ASIA 2009
latest Articles
· SORL Auto Parts Granted Pr..
· Auto rescue bill in peril,..
· Philippine Banks Will Be S..
· Record exhibitor numbers s..
· Exhibitors line up for tra..
· Kweichow Moutai Third-Quar..
Read the Top
· Auto rescue bill in peril,..
· Philippine Banks Will Be S..
· Record exhibitor numbers s..
· Exhibitors line up for tra..
· Kweichow Moutai Third-Quar..
Recommended Articles
· Kweichow Moutai Third-Quar..
· Philippine Banks Will Be S..
· SORL Auto Parts Granted Pr..
· Auto rescue bill in peril,..
· Record exhibitor numbers s..
· Exhibitors line up for tra..
Site latest Articles
· DTG 2011
· ITMA 2011
· TEXTECH 2010
· TEXMAC INDIA 2011
· DTG 2010
· Garment Technology Expo 20..
· Hostech by TUSID Expo 2009..
Read the Top Site
· AAPEX SHOW 2010
· ITM 2009
· INTERAUTO 2009
· Auto Expo India 2010
· Fime 2009
· ComPaMED+MEDICA 2009
· ITCE'12/ITCE 2010
Recommend site Articles
· DTG 2011
· ITMA 2011
· TEXTECH 2010
· TEXMAC INDIA 2011
· Salão de Acessório..
· Arab Health 2010
· VTG 2009
About Us - LINKS - site map- Contact Us
Copyright © 2005-2010 jcfairs.com. All Rights Reserved Record numbers 沪ICP备08011162号