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Asahi Group Q4 profit climbs 6.5% YOY

Asahi Group Holdings Ltd. said its fourth-quarter normalized net income came to ¥61.46 per share, a gain of 7.7% from ¥57.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.15 billion, an increase of 6.5% from ¥26.42 billion in the prior-year period.

The normalized profit margin rose to 5.6% from 5.4% in the year-earlier period.

Total revenue grew on an annual basis to ¥498.91 billion from ¥490.43 billion, and total operating expenses grew from the prior-year period to ¥457.37 billion from ¥450.24 billion.

Reported net income declined 49.3% year over year to ¥7.45 billion, or ¥16.27 per share, from ¥14.71 billion, or ¥31.78 per share.

For the year, the company's normalized net income totaled ¥201.13 per share, compared to EPS of ¥179.04 in the prior year.

Normalized net income was ¥92.50 billion, a gain from ¥83.16 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥1.857 trillion from ¥1.785 trillion, and total operating expenses rose on an annual basis to ¥1.722 trillion from ¥1.657 trillion.

The company said reported net income rose on an annual basis to ¥76.43 billion, or ¥166.18 per share, in the full year, from ¥69.12 billion, or ¥148.80 per share.

As of March 25, US$1 was equivalent to ¥113.11.