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Asahi Group Q3 profit climbs 52.9% YOY

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Asahi Group Q3 profit climbs 52.9% YOY

Asahi Group Holdings Ltd. said its normalized net income for the third quarter amounted to ¥104.48 per share, an increase of 52.8% from ¥68.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.87 billion, a gain of 52.9% from ¥31.32 billion in the prior-year period.

The normalized profit margin climbed to 8.2% from 6.2% in the year-earlier period.

Total revenue increased 16.5% on an annual basis to ¥584.55 billion from ¥501.86 billion, and total operating expenses climbed 12.5% on an annual basis to ¥508.13 billion from ¥451.68 billion.

Reported net income grew 644.3% on an annual basis to ¥55.51 billion, or ¥121.16 per share, from ¥7.46 billion, or ¥16.27 per share.

As of Nov. 13, US$1 was equivalent to ¥113.50.