Apr. 26, 2012 (China Knowledge) - Kweichow Moutai Co Ltd<600519
>, China's top ultra-premium traditional liquor maker, said yesterday that its net profit surged 57.6% year on year to RMB 2.97 billion in the first quarter of this year.
Basic earnings per share were RMB 2.86 in the first three months, up 57.6% year on year.
The liquor producer saw its operating revenue jump 42.54% from the same period of last year to RMB 6.02 billion.
Kweichow Moutai also said that its board of directors had granted approval to invest RMB 3.58 billion to upgrade technology and build related supporting facilities. The project, which is expected to be completed by the end of 2013, will generate RMB 3.14 billion of sales revenue each year.
The company said earlier that its net profit grew 73.48% year on year to RMB 8.76 billion in 2011 and its operating revenue rose 58.18% to RMB 18.40 billion in the year.