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Kirin reports higher quarterly profits

Japanese brewer Kirin Holdings Co. Ltd.'s profit attributable to its shareholders climbed to ¥49.87 billion in the first quarter from ¥22.39 billion in the same quarter last year.

Diluted earnings came in at ¥54.63 per share in the quarter that ended March 31, up from ¥24.53 in the same period last year.

Revenue rose to ¥431.20 billion for the quarter from ¥414.44 billion. Kirin's Japan integrated beverages business posted revenue of ¥222.7 billion from ¥215.6 billion, while revenue in its overseas integrated beverages business was ¥121.7 billion, up from ¥104.4 billion. Pharmaceutical and biochemicals business revenue totaled ¥83.1 billion, down from ¥89.9 billion.

Operating profit came in at ¥49.81 billion in the first quarter, up from ¥39.41 billion in the prior-year quarter.

Kirin expects full-year 2018 basic EPS to come in at ¥172.94 and profit at ¥180 billion.

As of May 9, US$1 was equivalent to ¥109.74.