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Yanghe Brewery posts 135.27% surge in Q3 net profit

Oct. 25, 2011 (China Knowledge) - Jiangsu Yanghe Brewery Ltd<002304>, a liquor producer and seller, announced yesterday that its net profit jumped 135.27% year on year to RMB 1.1 billion in the third quarter of this year.

The liquor company realized RMB 3.53 billion in revenue in the third quarter, 70.55% more than in the same period of last year.

In the first three months, the company's net profit totaled RMB 2.92 billion, up 89.88% year on year, and earnings per share were RMB 3.24 during the period.

The company's revenue amounted to RMB 9.7 billion in the first three quarters, up 74.59% year on year.

The Shenzhen-listed company attributed the robust growth in net profit in part to strong liquor sales.

Jiangsu Yanghe Brewery expected that its net profit will grow 70% to 90% this year.

Kweichow Moutai Co Ltd<600519>, China's largest producer of spirits by market value, said last week that its net profit rose 57% year on year to RMB 6.57 billion in the first three quarters.

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