LATVIA: Cesu Alus set to turn corner
By just-drinks.com editorial team | 31 October 2006
Latvian brewer Cesu Alus is celebrating a booming year so far.
The brewer, the country's second largest, said yesterday that sales in the nine-month period from January to September were up by 36% on the year, coming in at LVL12.6m (US$22.7m). In volume terms, sales lifted by 34% to 33m litres.
Operating profit followed suit, recording LVL632,000 for the period, over twice as much as the LVL281,000 posted in the same period a year earlier.
Cesu Alus chairperson, Eva Sietinsone, credited the strong performance to planned investments, an well-received marketing policy and efficient teamwork.
The brewer is chasing full-year figures from last year of LVL11.87m in sales and a loss of LVL472,000.
Estonia's A. Le Coq controls 96% of Cesu Alus. The Estonian country is itself owned by Finnish brewer Olvi Oyj.
Sectors: Beer & cider