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Kweichow Moutai's shares hit a new record on Monday after the Chinese distiller's first-quarter profits were higher than expected.
Moutai, the world's largest distiller by market capitalization, said Thursday that net profit for the first three months of 2019 had increased by 30% over the previous year. Preliminary calculations showed that revenues increased by 20% for the period.
The manufacturer of a high-end version of the Chinese grain liquor known as baijiu, had previously forecast revenue growth of 14% for the full year of 2019.
Moutai shares climbed 4.9% in the morning, peaking at R $ 908 (US $ 135), up more than 50% since the beginning of 2019.
The company has surpbaded Diageo as the world's largest alcohol group in terms of market capitalization in 2017.
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