Mar. 28, 2012 (China Knowledge) - Chinese liquor giant Wuliangye Yibin Co Ltd<000858
>, based in Yibin
Province, announced yesterday that its net profit surged 40.09% year on year to RMB 6.16 billion last year.
The company's operating revenue jumped 30.95% year on year to RMB 20.35 billion last year.
Sales of liquor priced above RMB 120 reached RMB 14.10 billion in 2011, accounting for 70% of the firm's total revenue. Gross profit margin on expensive liquor fell 1.21 percentage points to 84.63% in the period.
Wuliangye Yibin declared a final dividend of RMB 5 per ten shares.
Major rival Kweichow Moutai Co Ltd<600519
> said earlier this month that it expected its net profit to grow 73.49% year on year to RMB 8.76 billion in 2011, and Jiangsu
Yanghe Brewery Ltd<002304> forecast an 81.89% increase in net profit for last year, which was estimated at RMB 4.01 billion.