Kirin Holdings has reported a significant return to net profit in its first quarter helped by the sale of its stake in Fraser and Neave earlier this year. 

Group net profit in the three months to the end of March hit JYN54.3bn (US$550m), in contrast to last year’s loss of JYN3bn, the Japanese conglomerate said late last week. However, operating profit fell by 4.6% to JYN24.15bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Kirin said its net profit was “up sharply” due to gains from the sale of “investment securities” in conjunction with the sale of F&N. In February, the group said it was selling its 15% stake in F&N to TCC Assets for around S$2bn (US$1.6bn).

Sales in this year’s first quarter were up by 4.7% to JYN520.6bn. 

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now