Aug 01 2018, 5:00 PMAug 02 2018, 11:12 AMAugust 01 2018, 5:00 PMAugust 02 2018, 11:12 AM
Chinese drinks company Kweichow Moutai has reported a 40% hike in H1 2018 net income to CNY15.8bn ($2.32bn), after raising prices on products, including liquor Flying Fairy, by an average of 18%. The company’s shares have surged more than 50% since the start of last year, and it is now trading at HK$16.50 ($12.68), up from its previous price of HK$9.50. In May, Moutai said non-core liquor brands made up 10% of revenue, and had risen 84% from 2017.