China Ouhua Winery posts smaller loss on lower fees

PETALING JAYA: China Ouhua Winery Holdings Ltd narrowed its net loss to RM930,000 for the second quarter ended June 30, 2017 against RM2.07 million in the previous corresponding period, due to reduction in marketing and distribution fees.
Its revenue soared 61.9% from RM1.11 million to RM1.79 million.
The group’s first-half net loss also narrowed from RM4.83 million to RM1.92 million on the back of a 1.9% rise in revenue from RM2.42 million to RM2.47 million.
China Ouhua told the stock exchange that for the first half, domestic wine production continued to decline and at the same time imported wine showed growth momentum.
“The company will continue its proactive marketing activities by making sales calls and provide quality customer services to long-term loyal customers. In the meantime, the group will continue to look for viable projects and feasible opportunities for the benefit of the shareholders,” it said.