China's leading liquor maker reports robust profit growth
Source: Xinhua | 2022-02-03
China's leading liquor maker Sichuan Swellfun Co. Ltd. forecast a significant profit increase in 2021, surging 64 percent year on year.
Net profits are likely to increase about 468 million yuan (about 73.58 million U.S. dollars), according to a statement filed to the Shanghai Stock Exchange.
Revenues are expected to rise about 54 percent from a year earlier.
The company said its sales jumped around 40 percent year on year, driven up by booming sales of mid to high-end liquor.
The company attributed its robust revenue and profit growth to a low comparison base and more social gatherings in 2021 as COVID-19 had been put under effective control, according to the statement.
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