Wuliangye forecasts strong growth in Q3

Liquor maker Wuliangye Group Co Ltd said on Sunday that its third-quarter net profit is expected to increase nearly 90 percent, mainly driven by price hikes and strong sales, Xinhua News Agency reported.

Net profit during the period is expected to be between 2.74 and 2.76 billion yuan ($437.2 million to $440.4 million), a year-on-year increase ranging between 88.3 and 89.6 percent.

The company had predicted that in the first three quarters of this year, its net profit would reach between 7.79 and 7.87 billion yuan, up more than 60 percent compared with the same period of last year.

The company is based in Yibin, in Southwest China's Sichuan province.

huangying@chinadaily.com.cn