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Wuliangye 1Q Profit Rose 16%

Provided by Dow Jones

May 2, 2023 12:05am

By Yifan Wang

Wuliangye Yibin Co. said its first-quarter net profit rose 16% on higher revenue and better cost efficiency.

The Chinese liquor company posted a net profit of 12.54 billion yuan (US$1.81 billion).

Revenue rose 13% to CNY31.14 billion during the period. Total operating costs grew at a slower pace of 12%.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

May 01, 2023 20:05 ET (00:05 GMT)

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