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DENMARK: Bryggerigruppen posts higher net loss in Q1

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The Danish brewer, Bryggerigruppen, has posted a net loss of DKr37.5m (€5.1m) for the first quarter of 2003, against a net loss of DKr11m (€1.5m) in the first quarter of 2001.

The brewer also recorded a pre-tax loss of DKr52.2m (€7.0m) compared with a pre-tax loss in the first three months of 2001 of DKr14.9m (€2.0m).

The company attributed the increased losses to the DKr40m costs incurred in the imminent closure of its plant at Randers in northern Denmark.

Operating profits reached DKr3.8m, against an operating loss of DKr1.1m in the first quarter of 2001, while sales fell from DKr596.8m to DKr530.5m for the quarter.

Bryggerigruppen reiterated its forecast for the full 2003 year of pre-tax profits of between DKr210m and DKr235m, with turnover flat at DKr2.778 billion.


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