RUSSIA: Sun Interbrew narrows Q1 net loss
Sun Interbrew has narrowed its Q1 net loss on the back of a healthy rise in revenue. The Russian brewing company said yesterday that its net loss for the first quarter to 31 March narrowed to €1.8m from €7.1m last year.
Revenue for the company leapt by 61% to €133.6m, as the volume of beer sold increased by 49% to 3.9m hectolitres.
Sun Interbrew's earnings before interest, tax, depreciation and amortization rose to €17.2m from €7.6m, while EBITDA margin increased to 12.9% from 9.1%.
Loss per share, basic and diluted alike, narrowed to €0.02 from €0.10.
The company said that it will continue to pursue volume growth and expects to outperform the market in 2004. While it plans to place emphasis on cost control, it sees an increase in raw material and distribution costs.
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