October 27 -- Wuliangye Yibin (000858.SZ) posted a 41.91 percent year-on-year rise in net profit to 4.82 billion yuan for the first three quarters, with earnings per share of 1.269 yuan, up 41.95 percent, reports yicai.com, citing a company filing.

During the same period, sales revenue increased 36.41 percent year-on-year to 15.65 billion yuan.

The spirits maker recorded third quarter net profit of 1.46 billion yuan on revenue of 5.05 billion yuan, up 28.32 percent and 29.75 percent year-on-year, respectively.

The company said holdings of cash and cash equivalents through the end of September rose 34.64 percent from the beginning of 2011.

Wuliangye Yibin capitalized on an increase in sales volume to achieve the higher earnings.

According to a report by Guotai Junan Securities, the spirits industry recorded a 29.3 percent growth rate in the first nine months.
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Source:CapitalVue