Moutai reports strong profit growth in Q1

0 Comment(s)Print E-mail Xinhua, April 7, 2019
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China's leading liquor brand Kweichow Moutai reported a net profit rise of 31% year-on-year from January to March.

Moutai's net profits in the first quarter of 2019 rose to 11 billion yuan (about US$1.63 billion). Its sales revenues during the period reached 25.7 billion yuan, up 21% year on year, according to the company Friday.

In 2018, Moutai saw its output reach around 70,200 tonnes, with sales revenues reaching 73.6 billion yuan and net profits 35.2 billion yuan, up 26.49% and 30% respectively, year on year.

Moutai is a sorghum-based spirit produced by Kweichow Moutai and is China's top brand of white alcohol. The liquor, often served on official occasions and at state banquets, is considered a luxury item and has long been a popular gift.

Despite its high price, domestic demand for Moutai has always exceeded supply. 

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