Kirin Holdings has said it expects its profits to rebound in 2012 after one-off charges, including those linked to its Australian dairy unit, hit earnings in 2011.

The Japanese food and drink group made the forecast after reporting its profits in fell by more than a third in 2011.

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Kirin filed a 35% drop in net income to JPY7.41bn (US$95.3m) due to lower sales and to JPY10bn in impairment charges, including a JPY6.6bn charge on its Australia dairy and juice business.

Sales were down 4.9% at JPY2.07trn. Operating income fell 5.8% to JPY142.86bn.

However, for 2012, Kirin expects its net income to improve again and reach JPY48bn. It has forecast a 13.4% rise in annual operating income to JPY162bn. Net sales are expected to increase 7.7% to JPY2.23trn.

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