Wuliangye Yibin reports 2013 net earnings of 7.97B yuan, down 19.8% from year-ago period; revenue falls 9.1% year-over-year to 24.72B yuan

BEIJING , April 18, 2014 () – Net profits of Chinese liquor giant Wuliangye Yibin Co Ltd dropped 19.75 percent to 7.97 billion yuan ($1.3 billion) last year, the latest data showed.

In 2013, business revenues of the market leader totaled 24.72 billion yuan, falling 9.13 percent from a year earlier, the company said in its annual report filed with the Shenzhen Stock Exchange.

The slower profit growth came as China's liquor industry undergoes a restructuring period following wild growth in the past decade. The ongoing nationwide campaign to curb extravagance has also dealt a blow to high-end liquor brands such as Wuliangye.

Wuliangye said the industry will remain in an adjustment period, and the company will aim to realize positive growth of business revenues for 2014.

Moutai and Wuliangye pay record joint price-fixing fine

China's Wuliangye faces class action lawsuit

(c) 2014 China Daily Information Company. All Rights Reserved. Provided by Syndigate.info, an Albawaba.com company

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.