Luzhou performance of last year's profit growth rate of 1.7 billion decline for three consecutive years

Today (April 16), Luzhou (000 568, closing price 32.15 yuan) Annual Report released in 2009. Last year the company achieved operating income of 4.37 billion yuan, up 15.06 percent over 2008; attributable to shareholders of listed companies net profit of 1.673 billion yuan, up 32.18%; 1.20 yuan per share, return on equity 38.78%. The company also presented each of the current 7.5 yuan 10 shares (including tax) profit-sharing plans.


Marked slowdown in business growth It is noteworthy that, although the annual report of 2009, Luzhou, whether performance or profit-sharing program is still regarded as very bright, but the comparison with previous years, "Daily Economic News" reporter found that growth performance of the company has significant slowdown in growth in net profit since the 2006 peak, in 2007 and 2009 declined for three consecutive years.


Starting in 2006, Luzhou the country as a pit 1573 Marketing Break key, and have achieved great success. Year net profit of 323 million yuan, representing an increase of 4.7 times in 2005. 2007 and 2008, the Company continued to maintain high growth momentum, net profit grew by 140% and 64%. But in 2009, the company net profit growth rate of only 32%. This may mean that growth for the company has entered a period of relative stability.


High Wine Luzhou is still the main source of revenue and profits. In 2009 the company grade Wine Sell Income reached 2.639 billion yuan, compared with 6.03% growth in 2008, the proportion of business income reached 60.39%; operating profit margin of 82.44 percent, up 0.71%. But in the Di Dangjiu end liquor sales growth over last year, company sales grew by Di Dangjiu 66.26%, to 1.996 billion yuan; operating profit margin also increased from 9.67 to 43.08%.


In addition, since last year's A-share market rebounded sharply, Luzhou shares 34.85% of the West China Securities good results, achieving net profit of 1.027 billion yuan, the company acquired in accordance with the proportion of 358 million equity investment income, the net profit accounting for just over 20%.


Plan to grow by 2 times the 2013 volume
Can be seen from the annual report for the situation faced by the business, Luzhou management hold a more cautious approach, stating that " Spirit Barriers to entry low, the large number of trade enterprises, and foreign industry and foreign capital in China is also trying to squeeze Spirit Market share, competition will become fiercer, the scale of China's liquor industry, the development of the national trend of more and more evident. In the next few years, second-line high-quality wine enterprises will be integrated into the mainstream, can be expected in 2010 the liquor industry's 'shuffle' the situation of intense competition will occur. , "The Company" and the industry leaders in the management strength, brand competitiveness, and so there are still some gaps, will face a 'model before, after the pursuers' situation. "


Although attitudes with great care, but in the development of management plans, Luzhou management can still be described as full of passion, plans to achieve sales revenue in 2010 5.8 billion (including tax), that is 33 more than last year %; and the company plans to 2013, the sales income will reach 13 billion yuan (including tax). If the company's 2013 blueprint to accomplish this, which means that when the company will expand this year, sales volume than 2 times!


Strategically, companies that achieve the sales target for the year 1573 sales in the country pits rapid growth, the full upgrade Luzhou special song sales and selling prices, and special music will be launched Luzhou Year wine brand to achieve Luzhou Advertisement Promote strong coverage, and ultimately Luzhou special song as a whole increased sales and brand height increased gradually.

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