Japan: Asahi Breweries, Ltd. announced on October 27 consolidated financial results for the 3Q period ended September 30, 2004. Company’s group net profit increased by 46.4% year-on-year to 31,178 million yen (US$293m) from JPY21.29 bln a year earlier. Group sales rose by 2% to 1,046,941 million yen from 1,026,581 million yen in the same period last year. The brewer credited benefits from cost cuts for the increases.

Asahi Breweries sold 108.71 billion cases of beer (0.7% decrease) and 41.08 billion cases of happoshu (low-malt beer) (1.7% increase) in the first nine months of the year (excluding exports). Company’s forecast for the full year 2004 made on August 6th is to sell 148 billion cases of beer and 57 billion cases of happoshu (low-malt beer).

For the full fiscal year to 31 December, Asahi stuck to the outlook it made in August, expecting a group net profit of JPYY28 bln, an operating profit of JPYY88 bln and sales of JPYY1.435 trillion.

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