, Japan
Source: Iryna Olar (Pexels)

Suntory net profit grows 14.5% in first nine months

Its net profit amounted to JPY68b.

Suntory Beverage & Food reported its net profit attributable to owners increased by 14.5% year-on-year to JPY68b in the first nine months of the year. 

Over the same period, its operating income increased by 14.6% to JPY 110b, whilst its revenues climbed by 14.8% to JPY1.08t. 

“In the third quarter, SBF continued to take the offensive with the aim of further growing our revenue, and as a result achieved significant revenue growth for the Group overall while continuing to gain market share in the main markets,” Kazushi Ishikawa, Corporate Strategy Division COO of Suntory Beverage & Food said.

“Despite the growing impact from the rise in raw material and energy prices, as well as the impact from currency fluctuations, we were able to minimize the negative effect on profit by thoroughly focusing on RGM and cost management.”

Ishikawa noted the company registered positive revenue growth across all its segments. Segment profit also grew except in Japan dropped where it dropped 20.8% to JPY28.6b. 

Ishikawa linked this to the rise in the prices of raw materials as well as the depreciation of the yen.

 

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