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Suntory Beverage & Food Q4 profit climbs 9.9% YOY

Suntory Beverage & Food Ltd. said its normalized net income for the fourth quarter amounted to ¥38.78 per share, a gain of 9.9% from ¥35.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.98 billion, an increase of 9.9% from ¥10.90 billion in the year-earlier period.

The normalized profit margin fell to 3.3% from 3.4% in the year-earlier period.

Total revenue increased 13.7% year over year to ¥360.04 billion from ¥316.59 billion, and total operating expenses climbed 14.4% from the prior-year period to ¥337.91 billion from ¥295.46 billion.

Reported net income declined 28.8% from the prior-year period to ¥3.84 billion, or ¥12.44 per share, from ¥5.40 billion, or ¥17.48 per share.

For the year, the company's normalized net income totaled ¥159.15 per share, compared to EPS of ¥151.88 in the prior year.

Normalized net income was ¥49.18 billion, an increase from ¥46.93 billion in the prior year.

Full-year total revenue grew from the prior-year period to ¥1.381 trillion from ¥1.257 trillion, and total operating expenses rose year over year to ¥1.289 trillion from ¥1.171 trillion.

The company said reported net income increased year over year to ¥42.46 billion, or ¥137.42 per share, in the full year, from ¥36.24 billion, or ¥117.28 per share.

As of March 31, US$1 was equivalent to ¥112.39.