DENMARK: Bryggerigruppen Q1 profit on the slide
Bryggerigruppen has posted a drop in profits for the first quarter. The Danish brewery said yesterday (18 April) that its net loss widened to DKK12.1m (US$2.1m) from a loss of DKK7.3m in the corresponding period last year.
Net revenue rose, however, to DKK626.4m from DKK552.2m, upon which an operating loss of DKK5.7m was made. Operating profit a year earlier reached DKK3.7m.
Pre-tax loss widened in the three-month period to DKK17.2m from a DKK12.5m loss.
The company blamed production costs, inventory valuations and changes in deposit prices for affecting margins.
Bryggerigruppen said it still expects pretax profit for the full year 2005 to be between DKK290m and DKK340m.
Sectors: Beer & cider
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