Japan, Tokyo: Japan's Asahi Breweries Ltd. Announced that group recurring profit was about 28 billion yen ($255.8 million) in the January-June period, beating the company's own forecast of 27.5 billion yen, a Japanese daily has recently posted. Revenues in the six months were around 650 billion yen, falling short of a target of 667 billion yen due to slower sales than expected of low-malt beer, but cost-cutting efforts boosted profits, the Nihon Keizai Shimbun business daily said.

A spokesman at Asahi said the report was based on speculation and declined to comment on its earnings. Asahi is set to announce its half-year earnings results on August 6, according to Reuters. ($1=109.46 Yen)

09 July, 2004