Moutai ‘to see revenue growth fall’

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July 23, 2019

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Moutai ‘to see revenue growth fall’

Source: Xinhua | 00:05 UTC+8 July 23, 2019 |

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China’s top alcohol brand Kweichow Moutai is forecast to see a decline in revenue growth for the third quarter of the year partly due to tight supplies, according to a report from China International Capital Corp.

Moutai’s revenues are projected to rise by 15 percent year on year during the third quarter, slowing from 18.24 percent growth in the first half.

Profits are forecast to be between 42.04 billion yuan (US$6.18 billion) and 52.72 billion yuan in 2019, according to the report. Moutai reported a profit of 19.95 billion yuan for the first half, up 26.56 percent year on year. Its revenue during the period was 39.49 billion yuan.

Moutai plans to sell 31,000 tons of liquor this year, down from 32,000 tons in 2018.

Distilled in the town of Maotai in southwest China’s Guizhou Province, Moutai is one of the country’s leading liquor brands and often served at state banquets. Despite its high price, domestic demand for the spirit has always exceeded supply.

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Moutai ‘to see revenue growth fall’

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