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Global spirits drive Suntory H1 profits jump - results

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  • H1 alcohol operating profits up 24% to JPY39.5bn (US$391.4m)
  • Net sales down 2% to JPY474.9bn
  • Soft drinks & food operating profits climb 5% to JPY49.2bn
  • Net sales increase 9% to JPY674.5bn

Suntory Holdings has posted a big jump in profits for its alcoholic beverages despite a slight fall in sales.

Suntorys Bourbon brands found good global growth, the company said

Suntory's Bourbon brands found good global growth, the company said

The Japanese conglomerate, which produces wines, spirits and beer, saw alcohol operating profits soar by 24% to JPY39.5bn (US$391.4m) in the six months to the end of June, it said today. Net sales dipped by 2% to JPY474.9bn in the same period.

Growth was driven by global spirits unit Beam Suntory, which increased comparable sales by mid-single digits on the back of gains for Jim Beam, Maker's Mark, Teacher's, Courvoisier and Hornitos, Suntory said. Sales growth in Beam Suntory's Americas region was led by mid-single-digit growth in the US. Meanwhile, Beam Suntory's Japan business, Suntory Spirits, saw 3% year-on-year growth in sales, helped by increased demand for highball RTDs.

Suntory Beer sold a record high of 33.14m cases, a 1% increase on the year before despite an overall market decline of 1%. Suntory's international wine sales were affected by the foreign exchange rates, and fell slightly, Suntory said. Excluding the currency impact, net sales rose 2% year-on-year.

Suntory's soft drinks & food division increased net sales by 9% to JPY674.5bn and operating profits by 5% to JPY49.2bn.

Suntory also operates non-beverage business units, including Suntory Wellness, Dynac Corporation and Häagen-Dazs Japan. Combined sales for Suntory Holdings were up 3% to JPY1.27tn, while net organic profits increased by 44% to JPY63.5bn.

What are the key trends in non-Scotch whisky? Click here to read just-drinks Non-Scotch Whisky Essentials


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