Moutai net profit rises 51.86% in 2012
Updated: 2013-03-29 20:30
(chinadaily.com.cn)
|
||||||||
Kweichow Moutai Co Ltd, China's leading liquor maker, has reported net profit of 13.3 billion yuan ($2.14 billion), up 51.86 percent year-on-year, for the 2012 fiscal year, according to its annual report.
Turnover increased 43.76 percent year-on-year to 26.46 billion yuan, the report said.
It said China's liquor industry is facing unprecedented pressure and will enter an era of moderate expansion amid overcapacity, falling demand and prices, and mounting stockpiles as economic growth declines.
The central government is promoting frugal dining, and has barred high-end liquor from banquets to curb corruption.
- Li Na on Time cover, makes influential 100 list
- FBI releases photos of 2 Boston bombings suspects
- World's wackiest hairstyles
- Sandstorms strike Northwest China
- Never-seen photos of Madonna on display
- H7N9 outbreak linked to waterfowl migration
- Dozens feared dead in Texas plant blast
- Venezuelan court rules out manual votes counting
Most Viewed
Editor's Picks
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
TCM - Keeping healthy in Chinese way |
Poultry industry under pressure |
Today's Top News
Boston bombing suspect reported cornered on boat
7.0-magnitude quake hits Sichuan
Cross-talk artist helps to spread the word
'Green' awareness levels drop in Beijing
Palace Museum spruces up
First couple on Time's list of most influential
H7N9 flu transmission studied
Trading channels 'need to broaden'
US Weekly
Beyond Yao
|
Money power |