Moutai's 2012 net profit lower than expected

Kweichow Moutai Co Ltd, China's high-end liquor producer, has reported net profit for the 2012 fiscal year increased by around 50 percent year-on-year, lower than expectations.

No figure has been released for the profit, ahead of the company's annual report.

The company's third-quarter net profit surged 106.05 percent year-on-year to reach 3.42 billion yuan ($543.41 million).

Business revenue rose 46.10 percent year-on-year to 19.93 billion yuan in the first three quarters of 2012, according to a report filed earlier to the Shanghai Stock Exchange.

Last month, the central government introduced a regulation barring liquor at military banquets to curb corruption. Share prices of high-end alcohol producers have been affected.

Moutai's shares closed at 189.05 yuan on Friday, down 3.53 percent.