The Japanese brewer Kirin Brewery announced today that net profit for the first nine months of the year was up 13% to ¥34.87 billion from the ¥30.86 billion in the same period last year.
In the same period group sales edged up 0.1% to ¥1.174 trillion from ¥1.172 trillion, despite a poor year for beer sales, which were affected by a cool summer in Japan.
Go deeper with GlobalData
The beer sector was also hit by the increase in tax on its relatively low-priced, low-malt Happoshu products, which saw consumers move to other low-priced alcoholic drinks. Overall beer shipments in the first nine months fell 7.5% in volume year on year, more or less in line with the industrywide fall.
Kirin was however buoyed by growth in its soft drink sector, which rose 3.8% to ¥270 billion
For the full business year ending December, Kirin reiterated its outlook for group operating profit of ¥90 billion, a net profit of ¥33 billion and sales of ¥1.610 trillion.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
