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Suntory reports higher quarterly profit

Japanese beverage company Suntory Beverage & Food Ltd. reported net profit of ¥22.26 billion in the first quarter, up from ¥14.89 billion in the same quarter a year ago.

EPS stood at ¥66.31, up from ¥42.24 in the first quarter of 2017.

Revenue rose to ¥277.13 billion for the quarter, up from ¥268.32 billion. Cost of sales came in higher at ¥161.37 billion from ¥150.54 billion, resulting in a gross profit of ¥115.76 billion, down from ¥117.78 billion.

Operating income rose to ¥26.57 billion from ¥20.92 billion.

The company still expects its full-year 2018 basic EPS to come in at ¥258.90 and profit to stand at about ¥80 billion.

As of May 8, US$1 was equivalent to ¥109.30.