Moutai shows stable performance in H1

Kweichow Moutai Group Co Ltd, based in Renhuai, Guizhou province, reported steady sales in the first six months of 2014 on Thursday. Provided to China Daily

Kweichow Moutai Group Co Ltd, based in Renhuai, Guizhou province, reported steady sales in the first six months of 2014 on Thursday, indicating a stable performance amid the government's campaign against corruption and extravagance.

Moutai, the only publicly listed distiller in China, showed first-half revenue up 1.37 percent to 14.32 billion yuan ($2.33 billion), while net profit slid 0.25 percent to 7.23 billion yuan and deferred revenue sank 82.43 percent to 544 million yuan, compared with the same period a year ago.

Moutai said the baijiu liquor industry is still undergoing adjustment in the face of the world's sluggish economic recovery and downturn in the domestic economy.

Establishing an e-commerce platform, the Moutai E-commerce Co, has been part of its efforts to expand marketing channels, and improve economic revenue.

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