OSAKA -- Beverage company Suntory Ltd. said Friday its group net profit in the first half of 2001 fell 24.1 percent from a year earlier to 5.65 billion yen.
The fall was attributed to advertising expenses overwhelming sales profits amid increasing competition in the industry, Suntory officials said.
In the six months to June 30, the unlisted Osaka-based company saw its pretax profit drop 33.4 percent to 17.25 billion yen, while sales rose 5.6 percent to 678.23 billion yen, buoyed mainly by sales of nonalcoholic beverages such as oolong tea. Advertising costs for food and alcoholic beverages, however, accounted for about 5 percent of total sales, Suntory said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.