JAPAN: Sapporo triples net profit in 2001.
Japan's third largest beer maker, Sapporo Breweries Ltd, has tripled its profits in 2001, it reported today. The increase was helped by improving profit margins and strong sales of low-malt brands.
Net profits were Y4.39 billion (US$32.71m) for 2001, a rise of 237% from a year earlier.
However, consolidated sales fell 1.2% Y567 billion, due mainly to a 14% year-on-year decline in traditional beer sales. But, sales of low-malt happoshu, a less-expensive beer alternative, leapt 45% in 2001.
Despite the continuing difficult economic conditions in Japan, the company is also predicting a good year in 2002 with group net profits estimated to grow to Y8.2 billion, a rise of 86% percent. Again this expected to be driven by sales of its low-malt products.
Companies: Sapporo Holdings
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