E-Malt.com News article: 4307

Japan: Japanese beverage company, Suntory Ltd. posted on February 25 a group net profit of 17.29 billion yen in fiscal 2004, down 24.8 % from the previous year, on sluggish sales of whiskey and wine, according to Kyodo News International.

Net profit per share was 24.82 yen in the January-December period, down from the preceding year's 33.09 yen. Group pretax profit slowed 3.6 percent to 54.19 billon yen on a 0.2 percent dip in sales to 1,316.70 billion yen.

Suntory said the sales decline is also attributable to a US subsidiary being made an unconsolidated unit and an 11.6 billion yen evaluation loss on holdings of whiskey for blending and wine being mellowed.

The beer division extended its red-ink streak since 1963, when the company entered the beer market, but the soft drink division performed well, aided by brisk sales of newly launched Iemon green tea.

For the current year, Suntory projects group net profit to reach 26 billion yen on sales of 1,390 billion yen, or 37.49 yen per share.

Group pretax profit is forecast at 68 billion yen.


26 February, 2005