Kirin's Myanmar venture posts 28% operating profit rise in FY 2019
BANGKOK, NNA - Myanmar Brewery Ltd., the nation's largest beer maker under the wing of Japan's Kirin Holdings Co., posted an operating profit of 12.9 billion yen ($115 million) in the year to December, up 27.8 percent from a year earlier.
According to Kirin, fiscal 2019 sales soared 24.4 percent to 32.6 billion yen because of an increase in the alcohol-drinking population and a delayed rainy season which helped boost beer consumption.
Kirin projects 36.4 billion yen in sales in fiscal 2020, up 11.7 percent from fiscal 2019, and 14.6 billion yen in operating profit, up 13.4 percent, in the Myanmar market where it said its arm commands an 80 percent share.
Kirin said during a financial results briefing in Tokyo on Monday that Myanmar Brewery is doing well and it continues to make investments in a timely manner. (NNA/Kyodo)