Luzhou Laojiao : Lao Jiao Expects 20%-30% Higher Net Profit for 2020

By Martin Mou

Luzhou Lao Jiao Co.'s net profit for 2020 is estimated to have increased between 20% to 30% on the back of higher sales of its core products.

Net profit is estimated between 5.57 billion yuan ($859.5 million) to CNY6.03 billion for last year, the baijiu maker said late Monday.

Shares of Luzhou Lao Jiao, one of China's leading premium baijiu brewers, have gained 65% over the past 60 days alongside a sector rally.

Write to Martin Mou at [e-mail]

(END) Dow Jones Newswires

01-11-21 2016ET