JAPAN: Suntory Holdings sees FY profits, sales jump
- FY group net profits jump 434% to JYN195.6bn (US$1.9bn)
- Net sales up 10.2% to JYN2.04tn
- FY operating profits up 17.5% to JYN126.6bn
- Beer & Spirits sales up 3.6% to JYN574.4bn
Suntory Holdings has seen a significant rise in full-year profits and sales helped by the public listing of its Beverage & Food division.
The Japanese group, whose interests include beer, whiskey, soft drinks and food, said that net profits jumped 434% to JYN195.6bn (US$1.9bn) in the 12 months the end of December. Group net sales in the period were up 10.2% to JYN2.04tn, the group reported today (17 February).
Operating profits in the year rose by 17.5% to JYN126.6bn.
Suntory’s Beer & Spirits division reported a 3.6% lift in sales to JYN574.4bn. Sales from Beverages & Food rose by 13.1% to JYN1.1tn.
The group said its profits were boosted by the “extraordinary income” generated by the market listing of its beverage and food unit last June.
Suntory said its domestic market of Japan has seen a “gradual” recovery due “improved corporate earnings” and a “pickup in consumer spending”.
In its international business, Suntory said it stepped up marketing activities in Europe, Oceania, Asia and the Americas. Last month, Suntory completed its US$2.11 acquisition of the Lucozade and Ribena brands from GlaxoSmithKline in the UK.
Late last week, Suntory also announced it is breaking up the international division of its Beverages & Food unit.
To read the company's full results statement, click here
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