China's top liquor brand reports strong growth in first three quarters
Source: Busiunion | 2019-10-17
China's top alcohol brand Kweichow Moutai saw its sales revenue jump by 16.64 percent year on year in the first three quarters of this year, according to the company Tuesday.
Its sales revenue during the period reached more than 60.93 billion yuan (about 8.6 billion U.S. dollars), with the net profit exceeding 30.45 billion yuan, up 23.13 percent year on year.
The liquor brand saw its sales revenue in the overseas market reach more than 1.9 billion yuan during the period.
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 percent and 30 percent year on year, respectively.
Distilled in the town of Maotai in southwest China's Guizhou Province, Moutai is one of the country's leading liquor brands and often served at state banquets.
Despite its high price, domestic demand for Moutai has always exceeded supply.