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Asahi Group Q1 profit climbs 33.2% YOY

Asahi Group Holdings Ltd. said its first-quarter normalized net income was ¥18.43 per share, a gain of 40.2% from ¥13.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.53 billion, a gain of 33.2% from ¥6.41 billion in the prior-year period.

The normalized profit margin rose to 2.3% from 1.7% in the year-earlier period.

Total revenue came to ¥374.19 billion, compared with ¥375.05 billion in the year-earlier period, and total operating expenses grew from the prior-year period to ¥363.38 billion from ¥359.68 billion.

Reported net income rose 411.1% year over year to ¥13.33 billion, or ¥28.78 per share, from ¥2.61 billion, or ¥5.35 per share.

As of May 14, US$1 was equivalent to ¥119.24.