Beverage Group Asahi Records 21% Year-On-Year Decrease In Operating Profit For 2020
Japanese beverage group Asahi Group Holdings has recorded a 21% year-on-year decrease in operating profit and a 3% decrease in revenue for 2020.
Asahi attributed the decreases to the impact of the COVID-19 pandemic.
The company noted that its alcohol business experienced year-on-year declines in revenue and profits mainly due to a decrease in sales in its on-trade business.
Asahi's soft drink businesses also experienced year-on-year declines in revenue and profits, which were attributed to weak vending machine sales.
Additionally, the company's food business experienced a decline in revenue and profits due to a decrease in sales of its Mintia brand.
Looking ahead, Asahi said that it is targeting revenue growth of 13% and core operating profit growth of 30% in 2021.
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