Sapporo Holdings has registered a massive drop in operating profit for the first nine months of this year. The parent company of Sapporo Breweries and Sapporo Beverage Co. said today (28 October) that group operating profit for the period from 1 January to 30 September tumbled to JPY5.07bn (US$44m) from JPY17.82bn in the corresponding period a year earlier. Pre-tax profit also fell sharply, to JPY2.62bn from JPY14.12bn.

Sales remained reasonable stable, however, at JPY334.98bn from JPY363.75bn in the first nine months of 2004.

Group earnings per share were down year-on-year to JPY2.17 from JPY27.64, the company said.

No further details were immediately available.