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Asahi expects a drop in 1992 earnings.

Asahi Breweries Ltd. expects to report an unconsolidated pretax profit for 1992 that may fall nearly 20 percent from last year's figures, the brewer stated.

Although Asahi has posted healthy growth in 1992, a brewery spokesperson said a rise in financial costs to refinance maturing bonds and a drop in revenue from stock sales has resulted in the a lower profit.

With additional bonds scheduled to be refinanced next year, the spokesperson noted that 1993's pretax profit is likely to change little from this year.

At the time of its mid-year earnings report in July, Asahi predicted a pretax profit for the year would fall only 11 percent to $125 million (15.5 billion yen) and a net drop of 12 percent. Asahi expected sales to rise 6.2 percent, the spokesperson said.

Asahi also reported that operating profit on its main business operations should rise 85 percent to nearly $282 million (35 billion yen) for the year.
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Title Annotation:Asahi Breweries Ltd.
Publication:Modern Brewery Age
Date:Jan 4, 1993
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