Anhui Golden Seed Forecasts 150 Percent Surge In Q1 Net Profit

Anhui Golden Seed Winery (600199) expects net profit attributable to shareholders to surge 150 percent year-on-year in the first quarter of 2010 from the 16.93 million yuan earned in the first quarter of 2009, reports China Securities Journal, citing a company filing.

The company attributed the expected surge in net profit to an increase in sales of its Chinese spirits products, an improvement in its sales structure and a rise in gross margins.