Light at the end of the tunnel
Sapporo Holdings Ltd announced that it expects to post a profit in the first six months of the 2004 business year; the first time in four years, due mainly to higher sales of its Draft One beer-like alcoholic beverage. The Japanese company said that it hopes profit to rise by 120 percent to a record JPY14.7 billion (USD133.8 million) for the year to 31 December. The brewer had initially projected a 32 percent decline for 2004 to JPY4.6 billion. The company mentioned it believes group sales will rise by 2 percent this year, while net profit should leap by 110 percent to JPY5 billion. The major Japanese brewery said it expects its group net balance to swing into the black in the period to 30 June 2004 with a profit of JPY2.7 billion, a turnaround from a loss of JPY6...
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