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Kirin Holdings reports lower half-year profit

Japanese beverage company Kirin Holdings Co. Ltd. reported profit attributable to owners of the company of ¥86.08 billion in the first half, down from ¥169.78 billion in the same period last year.

EPS came in at ¥94.76 in the six months that ended June 30, down from ¥186.04 in the prior-year period.

Profit in the first half of 2017 included a contribution from discontinued operations worth ¥81.79 billion.

Revenue totaled ¥918.24 billion, up from ¥878.15 billion.

Japan integrated beverages posted revenue of ¥499.2 billion from ¥491.4 billion, and overseas integrated beverages revenue increased to ¥242.3 billion from ¥203.8 billion. Revenue in pharmaceuticals and biochemicals fell to ¥168.9 billion from ¥173.9 billion.

Operating profit decreased to ¥99.62 billion in the first half from ¥114.90 billion a year ago.

Kirin said it still expects its full-year 2018 basic EPS to come in at ¥172.94 and profit at ¥155 billion.

As of Aug. 9, US$1 was equivalent to ¥110.94.