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Wuliangye Yibin sees profit surge nearly 50% in H1

Aug. 19, 2011 (China Knowledge) - Chinese liquor giant Wuliangye Yibin Co Ltd<000858> has posted RMB 3.49 billion-net profit for the first half of this year, reflecting a year-on-year jump of 48.98%.

In a statement filed with the Shenzhen Stock Exchange, the company said its operating revenue for the first half surged 39.84% year on year to RMB 10.6 billion.

The liquor company added more than 700 dealers and 900 outlets in the first half of 2011, which boosted product sales to a great extent, said analysts of China International Capital Corp.

In the reporting period, the high-end Wuliangye-branded liquor sales revenue swelled 36.73% from a year earlier, while the revenue derived from medium and low-end products sales increased 46.74% year on year.

Earnings per share for the first half of 2011 were 88.6 RMB cents, and the EPS is expected to reach RMB 1.62 in 2011, RMB 2.26 in 2012 and RMB 2.80 in 2013, forecasted by a Chinese securities institute.

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