15 November, 2002

The Japanese brewing group, Kirin Brewery Co., has reported net profit of Y30.86 billion for the first nine months of 2002, up 29% on the corresponding profit figure last year of Y23.88 billion.
Operating profit increased from Y61.93 billion to Y77.86 billion, while pre-tax profit rose from Y59.12 billion to Y73.34 billion. Turnover rose by 0.9% from Y1.162 trillion to Y1.172 trillion.

The group attributed the rise in profitability to the beneficial impact of cost-cutting programmes. The performance over the nine-month period contrasts favourably with the company's performance in the first half of the year. Group sales for the January-June period decreased by 2.7% to Y727.89 billion, while group operating profit fell by 6.6% to Y33.80 billion.

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