01 November, 2006

Japan: Asahi Breweries Ltd. said January-September 2006 net profit dropped to JPY31.0 billion from JPY36.0 billion a year earlier

Asahi Breweries Ltd. said October 30 that its group net profit for the nine-month period ended September 30 fell 14% on year, due to weak sales of low-malt beer and higher promotion expenses, Dow Jones Newswires released October 31.

Japan's top beer company in terms of annual shipments posted a group net profit of JPY31.04 billion, down from JPY35.99 billion a year earlier.

Group sales edged up 0.9% to JPY1.064 trillion from JPY1.055 trillion, while its beer shipments for the nine-month period fell 4.9% in volume.

Its group operating profit fell 3.4% to JPY61.38 billion.

For the fiscal year to December 31, Asahi left its group net profit outlook unrevised at JPY45.00 billion. It continues to predict group sales of JPY1.488 trillion.

Asahi compiled its earnings based on Japanese accounting standards.

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