Kirin Holdings H1 Profit Down, Revenues Up; Sees Weak Net Profit In FY18

Kirin Holdings Co., Ltd. (KNBWF.PK), a Japanese manufacturer of alcohol beverages and soft drinks, reported Tuesday that its first-half net income attributable to the owners of the parent fell 49.3 percent to 86.08 billion Japanese yen from 169.78 billion yen last year. On a per share basis, earnings were 94.76 yen, compared to 186.04 yen last year.

Normalized operating profit dropped 4.3 percent to 86.08 billion yen.

Revenues, however, grew 4.6 percent to 918.24 billion yen from 878.15 billion yen in the previous year.

Looking ahead for fiscal year 2018, the company now expects net income attributable to the owners to be 155 billion yen or 172.94 yen per basis share, a 36 percent drop from last year.

Normalized operating profit is expected to be 196 billion yen, up 0.9 percent, and net sales are expected to be 1.96 trillion yen, up 5.2 percent.

by RTTNews Staff Writer

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