Asahi 2011 Net Profit Rises 3.8%

Asahi Group Holdings Ltd (OTC: ASBRY) reported a 3.8% rise in its net profit for the year ended December 31.

Asahi's net profit for the period climbed to Y55.09 billion, from a year-ago profit of Y53.08 billion. Its sales fell 1.8% to Y1.463 trillion versus Y1.489 trillion, while operating profit surged 12% to Y107.19 billion.

For this business year, Asahi expects an 18% surge in net profit to Y65 billon. It projects a 10% rise in operating profit to Y118 billion and a 6.6% rise in sales to Y1.560 trillion.