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Changyu Pioneer Wine posts 32.98% rise in net profit for 2011

Apr. 20, 2012 (China Knowledge) - Yantai Changyu Pioneer Wine Co Ltd<000869>, one of the leading wine enterprises in China, announced yesterday that its net profit grew 32.98% year on year to RMB 1.91 billion last year.

Basic earnings per share were RMB 3.62 in 2011, and the wine maker proposed a dividend of RMB 15.2 per ten shares.

The company's operating revenue rose 20.96% year on year to RMB 6.03 billion last year, boosted by strong demand.

Sales of wine products were RMB 4.97 billion in 2011, and gross profit margin at the wine business reached 79.25%. The brandy business generated revenue of RMB 758 million, with gross profit margin of 62.14%.

Yantai Changyu Pioneer Wine aims to realize at least RMB 6.6 billion of operating revenue in 2012 and raise its capital expenditure to RMB 1.98 billion this year from RMB 558.08 million in 2011.

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