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Asahi Group Q1 profit climbs 136.5% YOY

Asahi Group Holdings Ltd. said its normalized net income for the first quarter was ¥8.19 per share, an increase of 136.5% from ¥3.46 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.75 billion, an increase of 136.5% from ¥1.59 billion in the prior-year period.

The normalized profit margin rose to 1.0% from 0.4% in the year-earlier period.

Total revenue came to ¥379.18 billion, compared with ¥380.24 billion in the year-earlier period, and total operating expenses totaled ¥365.53 billion, compared with ¥368.76 billion in the prior-year period.

Reported net income increased 354.5% year over year to ¥2.79 billion, or ¥6.09 per share, from ¥613.9 million, or ¥1.34 per share.

As of May 15, US$1 was equivalent to ¥113.61.