Wuliangye posts $2.37b revenue in H1

Shenzhen-listed Wuliangye on August 20 said that its first-half sales revenue was 15.05 billion yuan ($2.37 billion), surging 42.05 percent year-on-year.

The Chinese liquor maker said net profit was 5.05 billion yuan in the six months ending on June 30, up 50.07 percent compared with 3.36 billion yuan in the same period last year.

Wuliangye attributed the increase to rising operating revenue in the first half, as well as a higher growth rate of operating revenue than the growth rate of operating costs.

Earlier this month, Shanghai-listed Kweichow Moutai Co Ltd said its net profit in the first half increased 42.56 percent year-on-year to 7 billion yuan.

As Chinese stock markets fell 33 percent in 2010 and 2011, Moutai was a standout performer, rising 25 percent. Wuliangye rose a more modest 3.6 percent, according to Reuters.