Finland's Olvi Group has seen a first quarter operating loss was €0.14m, compared to a profit of €0.04m for the same period a year ago.

The loss was made despite a rise in net sales of 2.0% to €21.74m compared with €21.32m in the first quarter last year. Sales are expected to increase again in the second quarter, as Easter fell in April this year.

In a statement Olvi said that owing to the seasonal character of the beverage industry, the majority of its result is made during the summer season.

Earnings development depends to a large extent on the volume and price developments in the overall market. The Group's investments to increase capacity and efficiency will be completed as planned before the summer season, the company said.