LATVIA: Cesu Alus sees sales soar
Cesu Alus has reported a boost in sales in the first half of the year.
Latvia's second largest brewery said today (20 August) that, in the first six months of 2007, sales reached LVL11.5m (US$22.07m) rocketing 54 % from the same time the previous year,
The company specified that beer dominated its sales, while cider and cocktail sales rose 87% and mineral and juice sales also rose in H1. The brewery has attributed the figures to its consistent investments in the production and development of new products.
Cesu posted LVL682,000 in profit after selling 26.3m litres of beverages, a 37% rise from last year's 19.2m litres, adding that beer dominated its sales, while cider and cocktail sales increased by 87%.
Last year, Cesu Alus comanded 20% of the Latvian beer market and posted LVL27,300 in profit, posting a turnover of LVL16.67m.
Cesu Alus's largest shareholder is Estonian company, A.Le Coq, which holds 96% of voting stock in the Latvian brewery. All shares of A.Le Coq belong to the Finnish beer producer Olvi Oyj.
Cesu Alus has posted a record year for sales in 2007....
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