(Bloomberg) — Asahi Group Holdings Ltd. lowered its annual sales and profit forecast again as its $22 billion push into overseas markets makes Japan’s largest brewer more vulnerable to currency swings, as consumption weakens at home.Operating profit will probably be 202 billion yen ($1.9 billion) for 2019, the Tokyo-based company said Tuesday, citing currency fluctuations and domestic headwinds. That compares with its prior forecast of 215.5 billion yen, and the average analyst estimate of 215.9 billion yen.The shares of Asahi fell as much as 5.6% in early trading in Tokyo, the biggest intraday decline since July. The stock had climbed …read more
Source:: Yahoo Finance
