Chinese wine producer Wuliangye Yibin has posted a dip in net profit for the third quarter, despite a lift in sales.

The company said yesterday (17 October) that net profit for the three months to the end of September came in at CNY179.83m (US$23.9m), down from CNY199.76m in the corresponding period a year earlier. Sales in the period, however, were up to CNY1.7bn from CNY1.56bn.

For the first nine months of this year, Wuliangye saw net profit rise, to CNY1.32bn from CNY1.02bn, as sales rose to CNY6.04bn from CNY5.96bn.

Further details relating to the figures were not disclosed.

Wuliangye is based in the south-western Sichuan province in the country.