JAPAN: Kirin profits up, depsite weak beer sales
A third Japanese brewer has reported growth in the first half of the year. Kirin Brewery Co, the nations second largest beer producer, said today that group net profit rose 2.1% to ¥14.23 billion from Y13.93 billion in the same six-month period a year ago.
Group sales were up 3.6% to ¥759.45 billion.
The results were driven by good performances by two of the company's drinks units, Kirin Beverage Corp and Australasian beer and wine group Lion Nathan Ltd.
However, the company is still suffering from the recent tax hike on low-malt beer happoshu. Kirin is the country's number one producer of happoshu.
In the first half, Kirin's parent-only regular beer sales in volume terms fell 3.5% on year, while its happoshu sales fell a hefty 9.9%.
As a result of the "steep" fall in sales, the company cut its full-year outlook for growth in beer and happoshu, to a 0.1% rise compared with the 2.2% growth it had forecast previously.
For the full year group sales estimates were downgraded to ¥1.680 trillion from ¥1.700 trillion.
However, group profit estimates for the full year were left unchanged with a 33% rise in group net profit to ¥43 billion expected.
After some less than successful diversification in recent years, Lion Nathan is focusing its attentions back on beer and winning the approval of analysts in the process. The company looks set to gain ...
Integrating spirits, wine and beer has proved problematic for major drinks groups over the years but expansionary moves by the two major Australian brewers, Foster's Group and Lion Nathan, suggest tha...
Lion Nathan has appointed a new non-executive director....
Coopers Brewery is fighting the takeover attempt from fellow Australian brewer Lion Nathan....
Lion Nathan today announced that it intends to make an off-market offer for Coopers Brewery Ltd (Coopers). The offer of A$260 per share in cash values Coopers at A$352m....
Lion Nathan has received further assurances that it is not about to be taken over....
Lion Nathan has played down speculation that it may be the subject of a takeover....
Lion Nathan has said it is on target to reach its full-year net profit after tax forecast for 2005 of between A$230m and A$235m before one-off charges....
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Brown-Forman's H1 performance by region, brand
- Coca-Cola CEO Muhtar Kent set to stand down
- Beam Suntory opens global headquarters in Chicago
- Diageo wine assets integration head to leave TWE
- Brown-Forman's barrel sales take Scotch hit
- Absolut not "sufficiently focussed" on Millennials
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends