Japan: Kirin Holdings reported 28.7% first-half profit decline

Kirin Holdings Co. Ltd., a Japanese manufacturer of alcohol beverages and soft drinks, reported on August 10 that its first-half profit attributable to owners of the company declined 28.7 percent to 23.75 billion yen or 28.48 yen per share from 33.31 billion yen or 39.31 yen per share last year.

Normalized operating profit, however, grew 2.9 percent to 71.91 billion yen from 69.86 billion yen a year ago.

Revenue was 864.02 billion yen, down 1 percent from 872.47 billion yen in the prior year.

Looking ahead for fiscal 2021, the company now projects attributable net profit of 86.50 billion yen or 103.77 yen per share, normalized operating profit of 170 billion yen and revenue of 1.87 trillion yen.

The company previously expected attributable net profit of 103 billion yen or 123.56 yen per share, normalized operating profit of 180 billion yen and revenue of 1.88 trillion yen.

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