January 10, 2013 / 8:34 AM / 5 years ago

China's Wuliangye says 2012 net profit up at least 54 pct

SHANGHAI, Jan 10 (Reuters) - Chinese liquor maker Wuliangye Yibin Co Ltd said on Thursday its 2012 net profit will rise between 54 to 59 percent to 9.5-9.8 billion yuan ($1.53-1.57 billion).

Wuliangye said in a statement to the Shenzhen stock exchange that the reason for the jump in profit was due to higher sales, effective cost control and price hikes on some of its products. ($1 = 6.2262 Chinese yuan) (Reporting by Melanie Lee; Editing by Kazunori Takada)

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