Asahi Attributes Strong First Quarter Growth to Success of Non-Alcohol Launch and Price Adjustments
Japan’s Asahi Group saw a significant increase in total revenue during its first quarter with a 7.9% year on year increase, driven largely through what the company attributed to price revisions and premiumization. The company also pointed towards the successful launch of alcohol-free beer Asahi Super Dry 0.0%, which has contributed to the growth of the Asahi Super Dry brand.
“We made a good start to 2023, achieving strong first-quarter revenue and core operating profit growth despite significant ongoing cost pressures. We achieved this by advancing our “premium strategy” and by enhancing unit prices through the implementation of prudent pricing strategies,” said Atsushi Katsuki, President & CEO in an earnings briefing. “ Although many uncertainties remain in the operating environment, especially in how global inflation may play out, we’re confident in the resilience and growth potential of our businesses.”
Core operating profit also grew by 24.3% year on year during the first quarter 2023.
Katsuki also pointed towards the successful launch of alcohol-free beer Asahi Super Dry 0.0%, which has contributed to the growth of the Asahi Super Dry brand.
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