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JAPAN: Kirin Holdings sales slow in YTD

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  • 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 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. 

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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. 

Kirin sold its 15% stake in Fraser & Neave to TCC Assets for around SGD2bn (US$1.6bn) earlier this year. 

To read the company's full statement, click here


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