[Japan] Asahi Breweries Report Rise In Profits

Japanese Asahi Breweries Ltd reported a 5.8% rise in profits in 2009 with a net profit of US$ 533M (47.6BN yen). The rise was lower than originally forecast but the company said that the sale of subsidiaries and affiliates offset lower beer sales. Revenue was up 0.7% to 1.47 trillion yen. Revenue from alcoholic drinks decreased 1.7% to 985.5 BN yen as competition in the country grew more intense. For 2010, Asahi Breweries expects sales in soft drinks and health care products to rise and lift profits to around 52 BN yen, but due to stagnating domestic sales revenue from alcoholic drinks may shrink to 971.5 BN yen.