PORTUGAL: Poor weather hits Sumolis profits in 2007

By | 27 November 2007

Sumolis has reported a marked slide in net profit for the year so far.

The Portuguese brewer and soft drinks group said yesterday (26 November) that net profit for the nine months to the end of September fell by 16.2% on the corresponding period a year earlier, to EUR2.1m (US$3.1m).

Net profit, or EBIT, was flat on 2006 at EUR6.3m, with sales also holding steady, at EUR121m.

The company blamed the disappointing figures on the poor weather this summer, which hit soft drinks sales in Portugal particularly badly.

Looking forward, Sumolis said it expects sales volumes for the full year this year to slide.

Last month, Sumolis said it was in talks with state-owned bank Caixa Geral de Depositos to buy an 80% stake in its rival Compal. Sumolis already owns 20% of Compal, which operates not only in the fruit juice sector, but also in mineral water with its Frize brand.

Sectors: Beer & cider, Soft drinks, Water

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PORTUGAL: Poor weather hits Sumolis profits in 2007

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