ESTONIA: Saku Olletehas reaches 49% share
Estonia's largest brewery, Saku Olletehas, has announced that it reached its target of gaining 49% of the market by the end of 2001. The company also said it planned to make a EstKR5 dividend payment to shareholders, matching last year's dividend.
The company, in which Baltic Beverage Holdings (BBH) owns a controlling interest, said that it had managed to add 0.5 percentage points to its market share, recorded by the Estonia Beer Producers' Association, in spite of strong competition in the Estonian beer market.
Saku recorded a 24.7% drop in net profit in 2001 to EstKR55.6 million. The company attributed the decline to price increases in the international malt market at the beginning of 2001 and increased investment in sales, marketing and production.
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