JAPAN: Suntory profits up in H1
However, the 96% increase in net profit from the first half of 2002 was distorted by an accounting change in the first half last year relating to Suntory's US bottled water delivery business, Suntory Water Group.
Operating profits rose by 0.7% to Y31.66 billion on group sales 2.8% down at Y639.94 billion. The company attributed the improved profitability to a successful cost-cutting programme.
Suntory reported that combined alcohol sales were down by 11% at Y241.2 billion owing to weak demand for whisky and other spirits in the restaurant sector. Beer volumes fell by 3%, the company said, as a result of price rises in happoshu forced by the increase in excise on the low-malt beer.
However, Suntory said that its volume drop was not as steep as the 8% fall seen in the sector as a whole resulting in an increase in the company's market share which rose to a record high of 10.9% from 10.4%.
Suntory is forecasting group operating profit of Y88 billion for the full 2003 fiscal year, 12% up on 2002, with net profit rising by 48% to Y30 billion and sales up 2.5% at Y1.419 trillion.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
Police in eastern Kenya have said that at least 24 people died on Saturday after drinking illegally produced alcohol....
According to a recently published study, people who drink alcohol may have a lower risk of developing a type of cancer which affects the lymphatic system known as non-Hodgkin lymphoma (NHL)....
Diageo is calling for facts labels to be placed on alcohol beverages in the US....
Suntory has announced plans to add to its third beer portfolio....
Kenyan authorities are to ban beer and spirits advertising from television and billboards in the country, according to a local report late last week....
Allied Domecq and Suntory have launched a green tea liqueur called Zen in the US, following test-marketing in New York, Hawaii and California. The product will begin rolling out nationwide next week....
Post-menopausal women who consume even moderate amounts of alcohol may face an increased risk of breast cancer, according to a comprehensive US study....
- Interview - Bernstein analyst Trevor Stirling
- Trump, local spirits and the IR role - The Analyst
- Is Irish whiskey ready to recognise its potential?
- Diageo NA head on Trump, Millennials, Bourbon
- Cannabis – A clear and present danger to alcohol
- Beam Suntory opens global headquarters in Chicago
- Pernod Ricard offloads Domecq brandies, wines
- Diageo strike threat postponed with fresh vote
- Diageo appoints first programmatic marketing head
- TWE renames Blossom Hill fruit wine range