TOKYO (dpa-AFX) - Asahi Group Holdings, Ltd. (ASBRF.PK), a Japanese food and drink company, on Monday posted a decline in earnings for the first quarter, amidst a rise in raw material and other costs. Revenue, however improved from last year.
For the quarter ended in March, the company posted a profit of 4.3 billion yen or 8.6 yen per share, compared with 33.2 billion yen or 65.5 yen per share, reported for the same period a year ago.
Excluding items, income was 13.3 billion yen or 26.3 yen per share, less than 33.2 billion yen or 65.5 yen per share, reported for the first quarter of 2021.
Pre-tax profit was at 7.5 billion yen versus, 48.9 billion yen, on year-on-year basis.
The Tokyo-headquartered firm reported its EBITDA at 53.1 billion yen as against 55.6 billion yen, recorded for the previous fiscal. Operating earnings for the period moved down to 9.0 billion yen, from 52.2 billion yen of 2021.
Asahi, however, generated revenues of 496.9 billion yen, higher than 456.7 billion yen of the previous year quarter.
Looking ahead, for the fiscal 2022, the Group expects to report a profit of 146.5 billion yen with earnings per share of 289.1 yen on sales of 2.450 trillion yen.
It also projects its annual adjusted earnings to be at 156.5 billion yen or 308.8 yen per share.
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