Suntory Beverage & Food net profit up nearly 10% in Q1
Its net profit attributable to owners amounted JPY14.6b.
Suntory Beverage & Food reported its net profit attributable to owners grew by 9.3% on a currency-neutral basis to JPY14.6b in the first quarter of the year.
Over the same period, its revenue reached JPY 337.2b, reflecting an 8.4% growth.
Read more: Suntory Group posts nearly 20% profit growth in 2022
‘Sales volume continued to grow in key markets as a result of fully focused activities for our core brands in all segments, amid a recovery in foot traffic in Japan and continued demand growth overseas,” Noriaki Otsuka, Managing Executive Officer, Suntory Beverage & Food, said.
“Price revisions for PET bottle products in Japan from October last year and flexible price revisions overseas also contributed to revenue growth in all segments.”
Otsuka noted the company was impacted by cost increases driven by high prices of raw material and currency fluctuations.