JAPAN: Net profits slow but numbers stay black for Asahi Group in YTD
- Year-to-date net profits leap by 26.8% to JPY45.59bn
- Net sales in nine months to end of September rise by 6.9% to JPY1.14trn
- Operating profits slip by 11.9% to JPY67.68bn
- FY sales forecast to climb by 7.3%, operating profits by 5.4%
Growth may have slowed for Asahi in Q3, but the Japanese company still expects to have a good 2012
Asahi has posted a healthy set of results for its year so far, although net profits appeared to slow in the third quarter.
The Japanese conglomerate, which houses alcoholic beverages and soft drinks units, said earlier today (30 October) that net profits in the nine months to the end of September came in 26.8% up on the corresponding period a year earlier, as sales also rose, by 6.9% to JPY1.14trn. Operating profits for the year so far, however, dropped back by 11.9% as selling, general and administrative expenses increased markedly.
Back in August, the company said that its H1 net profits were up by 57.5% year-on-year.
While alcoholic beverage sales in Japan held steady and soft drinks sales increased slightly in the year so far, overseas sales performed particularly well, leaping by 79.6%.
The company did not publish figures for its third quarter.
For the full year, Asahi has forecast a 7.3% rise in net sales and a 5.4% lift in operating profits.
In July, an analyst suggested that the race among Japan's brewers to up their presence overseas is poised to heat up in the coming years.
To read the company's official statement, click here.
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