According to figures submitted to the Prague Stock Exchange, the Czech brewer, Prazske Pivovary, part of the Interbrew brewing combine, has recorded a loss of CZK42m for the first quarter of 2003, an increase of CZK28m on the loss in the first quarter of 2002.

The brewer said that the loss stems principally from one-off marketing costs incurred in the period under review and will not impact on the company's full-year figures for 2003. Prazske's sales in the first quarter were flat at CZK649m.

Prazske is the second largest beer producer in the Czech Republic, with a market share of 14%, and the country's third largest beer exporter, through its flagship Staropramen brand which is sold in some 27 countries.