JAPAN: Asahi Group FY profits up, but soft drinks earnings drag
- Group FY net profits up by 3.8% to JPY57.2bn (US$614m)
- Net sales in 2012 rise by 8% to JPY1.58tn
- Operating profits up 1.2% to JPY108.4bn
- Beer sales flat at JPY944bn
Asahi has seen FY profits edge up
Asahi Group has reported a slight rise in full-year profits, despite flat beer sales and a drop in earnings from soft drinks.
Net profits in the 12 months to the end of December were up by 3.8% to JPY57.2bn (US$614m), the Tokyo-based brewer, soft drinks maker and food group said earlier today (13 February). Sales rose by 8% in the period to JPY1.58tn.
Operating profits edged up by 1.2% to JPY108.4bn in the 12 months.
The company's beer sales were flat at JPY944bn, but operating profits in the brewing division increased by 12.1% to JPY113.3bn in 2012. Soft drink sales were up by 13.8% at JPY375.4bn, but profits were down by 28% to JPY10.2bn.
Back in Ocotber, the company had reported a 26.8% jump in year-to-date net profits to JPY45.59bn.
Last year, the group acquired soft drinks maker Calpis for JPY120bn (US$1.5bn). The group said today this was part of efforts to establish a "new growth structure" in Japan.
But, it added: "The future outlook is for significant changes in the business environment: for instance, stagnation in the global economy originating in the debt crisis in Europe and impending increases in the consumption tax in 2014 and beyond at a time of maturation of the market in Japan."
Looking ahead, the group said it has not set "fixed quantitative objectives" in its long-term vision to 2020. Instead, it said it has "changed to a framework of flexibly reviewing business strategies and allocating resources in accordance with changes in the business environment".
To read the company's statement, click here.
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