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AUSTRIA: BBAG nine-month figures hit by floods

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The Austrian drinks group, Brau-Beteiligungs AG (BBAG), said its nine-month performance was affected by the flooding in central Europe in the summer. The company posted earnings before tax and interest (EBIT) for the nine months to the end of September of €71.9m ($72.1m), up 6.8% from €67.3m last year.

The bad weather across Europe in August, impacting on drinking in outdoor cafes and beer gardens, depressed third-quarter sales and profit, the company said.

Third-quarter sales were 3% down, while sales in August fell by 16%. The company also said that third quarter EBIT fell by 14.1%.

In spite of the setbacks in the summer, however, the company maintained a positive outlook for the full year. "Although BBAG gave up some of the strong first-half gains in the third quarter, we still expect 2002 operating income to exceed the previous year's level," the company said.


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