Suntory Beverage & Food, the owner of Asian food business Cerebos Group, has doubled first-half profits in its first financial statement since it started trading on the Tokyo stock exchange.
Net profits rose by 96% to JPY12bn (US$121m) in the six months to the end of June, the company said today (6 August). Operating profits were up by 26% to JPY27.6bn. Net sales climbed 11% to JPY518bn.
Go deeper with GlobalData
Profits from the group’s domestic unit increased by 32% to JPY16.9bn on the back of a 3.1% sales lift to JPY331.5bn. International profits were higher, at JPY22.2bn, a 15% increase, despite smaller sales of JPY186.5bn, a 28% increase over last year.
The increase in profits was down to cost-cutting measures and a weaker Japanese Yen that helped boost overseas trade.
Suntory Beverage & Food listed on 3 July after an initial public offering that raised about US$3.9bn. Its parent company, which remains unlisted, has said it will use the cash to fund overseas acquisitions.
See Also:
Looking ahead, the company said expectations of a economic recovery in Japan are rising because of a increase in consumer spending.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataTo read the company’s official statement, click here.
