Japan: Kirin Holdings reports decline in first-half earnings

Kirin Holdings Company, Limited, a Japanese beer and beverage holding company, on August 8 posted a decline in earnings for the first-half of 2023, amidst an increase in costs and expenses. However, the company registered an improvement in revenue, RTT News reported.

For the six-month period to June 30, the company posted a net profit of 41.799 billion yen or 39.49 yen per share, lesser than 81.039 billion yen or 66.59 yen per share, registered for the same period of 2022.

Pre-tax income was at 57.074 billion yen as against last year's 95.247 billion yen.

Operating income fell to 36.922 billion yen from 76.137 billion yen a year ago.

Cost of sales moved up to 535.393 billion yen from 501.601 billion yen of previous year. Selling, general and administrative expenses were at 359.667 billion yen, compared with 343.368 billion yen of last year period.

Revenue improved to 970.232 billion yen from previous year's 917.048 billion yen.

Looking ahead, for the full year 2023, the company still expects to post profit attributable to owners of the company of 113 billion yen or 139.54 yen per basic share, a growth of 1.8 percent from last year, and revenue of 2.115 trillion yen, a growth of 6.3 percent from the prior year.

For full year, the company aims to pay a total dividend of 69 yen per share, unchanged from last year's 69 yen per share.

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