JAPAN: Asahi targets double profit growth by 2006

By | 24 February 2004

Asahi, the Japanese brewer, aims to more than double its net profit in the next three years. The company announced plans today to increase profits to around ¥50 billion by 2006 by boosting its beverage, drug and food business.

In its three year business plan, Asahi estimates drug and food sales will account for 3% of its total sales, compared with 1.6% at the moment. The brewer hopes to reduce its reliance on the beer business, forecasting a fall in its sales ratio to 72.3% from the current 79%.

By 2006, Asahi expects beverage sales to increase to ¥200 billion, making up 18.1% of its estimated total sales of 1.66 trillion yen, up from 13.5% last year.

Last week, the company reported a group net profit for 2003 of ¥23.21 billion, representing a 57.3% rise from 2002. Operating profit rose by 13.9% to ¥78.98 billion on sales 1.8% higher at ¥1.4 trillion.

Sectors: Beer & cider

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JAPAN: Asahi targets double profit growth by 2006

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