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Jiugui Liquor expects 350% surge in H1 net profit

Jun. 29, 2012 (China Knowledge) - Jiugui Liquor Co Ltd<000799> announced yesterday that it expected its net profit to soar between 310% and 350% YoY in the first half of this year.

The company said in a statement that basic earnings per share were estimated at RMB 0.77 to RMB 0.83 in the period.

The liquor maker expected its net profit to increase to between RMB 250 million and RMB 270 million in the first six months.

The Shenzhen-listed company attributed the better-than-expected net profit growth to a significant increase in sales and efficient cost and expense control.

In the first quarter of this year, the company's net profit rose 466.92% YoY to RMB 119.07 billion, and its core business revenue grew 182.73% to RMB 526.18 million.

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