LATVIA: Cesu Alus posts reduced loss for 2005

By just-drinks.com editorial team | 26 April 2006

Cesu Alus, Latvia's second-largest beer producer, posted a loss of LVL472,000 (US$836,000) for 2005, representing a significant improvement on the LVL1.07m loss incurred last year.

The company attributed the reduction in losses to its substantial investment in production and said it expected to close 2006 with a profit. Sales in 2005 rose by 26.3% to LVL11.87m.

Cesu Alus said it invested LVL4m in production development in 2005 and planned a further investment of LVL2.7m in 2006.

Sectors: Beer & cider