JAPAN: Sapporo 2002 net profit down 73%
A rise in volume sales of happoshu was not sufficient to offset the fall in the mainstream beer sales at Sapporo, while cut-throat competition in the happoshu sector had a negative impact on profitability.
Sapporo's group sales fell by 8.2% to Y511.75 billion, in line with a downgraded forecast the company issued in January. But net profit was below the Y1.6 billion the company had forecast last month.
For 2003, Sapporo is forecasting a group net profit of Y6.1 billion on group sales of Y525.0 billion.
Companies: Sapporo Holdings
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