CHINA: Wuliangye Yibin maintains growth target
"Our target has not changed and we want to realise a full-year profit growth of 10%," the company's board secretary, Peng Zhifu, said.
Successful cost-cutting initiatives allowed Wuliangye to register an 8.23% rise in net profit for the first half of 2003 to CNY389.63m. The profit increase was achieved in spite of a 1.03% drop in core revenues to CNY3.426 billion. The company said it was anticipating stronger sales in the second half.
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