Kirin – known for its core unit Kirin Brewery Co – posted sales of ¥1.06tn in the January-June period, up 1.2% from a year earlier and a record high for the six months. On top of brisk sales of beer-like beverages, the addition of drug maker Kyowa Hakko Kirin Co to Kirin’s consolidated results contributed to the sales growth.
Net profit plunged 81.6% to ¥14.96bn in the absence of a special profit registered in the corresponding period of the previous business year in connection with accounting procedures for corporate acquisitions, Kirin said.
Operating profit dropped 15.5% to ¥40.18bn due in part to slowing sales of non-alcoholic beverages in the domestic market.
For the entire business year to 31 December, Kirin raised its net profit projection to ¥60bn from ¥57bn after taking into account a foreign exchange gain on a yen-denominated loan to an Australian unit. Kirin kept its sales forecast unchanged at ¥2.3tn.
On merger talks with Suntory Holdings Ltd, Yoshiharu Furumoto – Kirin’s MD – said at a press conference, “We will sincerely and speedily promote the negotiations”, which are still at an initial stage.
Source: Kyodo News International
© FoodBev Media Ltd 2024