Sapporo Holdings Ltd., the company which owns the Japanese brewer, Sapporo, has reported that its consolidated net profit rose by some 106.5% to Y2.412 billion in 2003.
 
Recurring profit of the group, of which Sapporo Breweries is the core activity, increased by 186.9% to Y6.788 billion yen, while sales fell by 6.3% pct at Y479.52 billion.

Sapporo Holdings is forecasting a net profit for 2004 of Y2.2 billion yen, representing an 8.8% fall from 2003, while recurring profit is forecast to fall by 32.2% to 4.6 billion. Sales are expected to decline by 0.5% to 477 billion yen.