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JAPAN: Tough H1 set to cloud full-year for Asahi

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Asahi Breweries has warned that sales this year will be lower than initially forecast.

The warning follows the announcement today (2 August) of a poor set of first half results for the Japanese company.

Net profit at the brewer fell by 5% year-on-year in the six months to the end of June, coming in at JPY13.76bn (US$115.8m). Operating profit, meanwhile, fell by a more alarming 19.3% to JPY23.11, on the back of a 1.2% slip in sales, which totalled JPY672.61bn for the period.

Looking forward, Asahi said it now expects net profit for the full-year to reach JPY45bn, down from the JPY46bn forecast earlier. The target for operating profit in 2007 has been cut to JPY88bn from JPY93bn, with revenue expected to finish at JPY1.49 trillion from an initial JPY1.52 trillion.

Figures released earlier this month showed that Asahi had edged ahead of Kirin as leader of Japan's beer market in H1. Kirin's share fell to 37.3% with shipments decreasing 2.7%, whilst Asahi, despite posting a 1.5% year-to-year decline in shipments, lifted its market share to 37.4%.


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