JAPAN: Kirin Holdings sales slow in YTD
- Nine-month group net profits up 230% to JYN83.6bn (US$850.8m)
- YTD net sales rise 4.5% to JYN1.7tn
- Operating profits in nine-months up 2.1% to JYN107.4bn
- Lion YTD sales up 20%
Kirin's sales grew in the YTD but at a slower rate than its first-half
Kirin Holdings has seen a slowdown in sales growth in its year-to-date, but its bottom line remained healthy from the Fraser & Neave stake sale.
Group net profits, including beer, soft drinks and pharmaceuticals, rose by 230% to JYN83.6bn (US$850.8m) in the nine months to the end of September. Sales in the period increased by 4.5% to JYN1.7tn, a slowing compared to H1's 5.2% rise. Operating profits in the nine-months rose by 2.1% to JYN107.4bn.
Kirin Brewery sales in the period fell by 3.1% to JYN538.3bn. Beverage sales were up, however, to 264.4bn, a rise of 5.3%.
At the group's Lion business, in Australia and New Zealand, sales were up 20% to JYN357.3bn. The unit's portfolio includes beer, wine, spirits and soft drinks. Kirin's Brazil unit performed similarly well, with sales up 21.5% to JYN124bn.
To read the company's full statement, click here
Companies: Kirin Brewery Co.
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