Dynasty fine wine erns HK$160M in 2010

March 30 – Dynasty Fine Wine Group Limited (0828.HK) generated 2010 net profits of 159 million HK dollars, up two percent, reports 163.com, citing a company filing. Sales revenues in 2010 rose nine percent from last year to 1.62 billion HK dollars.

The company expanded its sales network beyond eastern China by offering a higher rebate to distributors. It sold a total of 63.2 million bottles of wine, up 10 percent from 57.4 million yuan in 2009.

The company’s “Dynasty” brand includes 100 wines, of which red wines contributed 82 percent of total revenue.

The firm’s new production and research facility in Tianjin, completed in October 2010, raised annual capacity from 50,000 tons to 70 million tons.