JAPAN: Allied sell-off boosts Suntory earnings
Japanese drinks group Suntory has reported a steep rise in earnings in 2005 thanks to the sale of its stake in Allied Domecq.
Suntory yesterday (22 February) posted a net profit of JPY26bn (US$222m), a leap of 51% on the year, after selling a 3.42% stake in Allied following Pernod Ricard's acquisition of the UK drinks giant. Suntory said it received JPY22.1bn for the holding.
Revenues rose 4.3% to JPY1.4 trillion but alcohol sales were up only 0.6%, as the company's beer business continued to struggle.
Operating profit was up 6.7% to JPY64.6bn.
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
Kirin Brewery is to follow Sapporo and Suntory into the so-called "third-category" beer market in Japan....
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