By Sherry Qin
Chinese liquor maker Kweichow Moutai posted a 16% on-year rise in net profit for the third quarter, driven by strong revenue growth.
Net profit rose to 16.90 billion yuan ($2.31 billion) in the quarter, compared with CNY14.61 billion in the same period a year earlier, the company said late Friday. That compared with the 21% increase recorded in the first half of the year.
Revenue climbed 14% to CNY33.69 billion during the third quarter.
The results put Moutai’s year-to-date revenue at CNY103.27 billion, up 18% from a year earlier. That marks the first time that nine-month revenue has surpassed CNY100 billion.
Core brand sales reached CNY87.27 billion in the first nine months of the year.
Write to Sherry Qin at sherry.qin@wsj.com
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