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Kweichow Moutai's First-Quarter Profit Rose on Strong Sales

Provided by Dow Jones

Apr 26, 2023 12:29am

By Bingyan Wang

Kweichow Moutai Co. posted a 21% rise in net profit for the first quarter from a year earlier, driven by strong revenue growth after China reopened.

The company said Tuesday that net profit reached 20.79 billion yuan ($3.00 billion) in the quarter.

Revenue climbed 29% to CNY39.38 billion, which lifted operating profit to CNY28.69 billion from CNY24.03 billion a year earlier.

Inventory by value rose to CNY40.05 billion from CNY38.82 billion as of the end of last year.

Write to Bingyan Wang at bingyan.wang@wsj.com

(END) Dow Jones Newswires

April 25, 2023 20:29 ET (00:29 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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