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Asahi Group Q2 profit climbs 25.0% YOY

Asahi Group Holdings Ltd. said its normalized net income for the second quarter amounted to ¥52.76 per share, a gain of 32.5% from ¥39.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.30 billion, a gain of 25.0% from ¥19.44 billion in the year-earlier period.

The normalized profit margin climbed to 5.0% from 4.5% in the year-earlier period.

Total revenue increased 10.6% on an annual basis to ¥482.63 billion from ¥436.22 billion, and total operating expenses increased 9.4% year over year to ¥446.16 billion from ¥407.92 billion.

Reported net income rose 56.1% from the prior-year period to ¥26.16 billion, or ¥56.80 per share, from ¥16.75 billion, or ¥34.33 per share.

As of Aug. 13, US$1 was equivalent to ¥124.46.