CHINA: Wuliangye posts a leap in profits

By | 29 June 2007

Chinese wine producer Wuliangye Yibin has posted a rise in its unaudited net profit figures for the first half of the year

The company, based in China's south-western Sichuan province, saw net profit leap to CNY1.14bn (US$149.76m) up 39.13% from the previous year, due to increased sales of high end products.

The company said that core business revenue was at CNY4.34bn ($570.15m), down 1.29% from the previous year, according to reports.

Wuliangye is understood to be looking to become one of China's top three domestic wine producers.
Wine consumption is on the rise in China and elsewhere in Asia.

Wine show organisers Vinexpo have predicted that wine consumption is to leap 16% between 2003 and 2008 to 767m litres.

Sectors: Wine

Companies: Vinexpo

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