Portuguese beer and juice company Compal has reported a reduction in losses for the first half of this year, despite a marked slide in sales for the period.

The company said today (3 October) that losses in the six months to the end of June came in at EUR1.4m (US$1.98m), an improvement on the EUR4m posted in the corresponding period a year earlier. Sales slid markedly, however, by 14% to EUR81.9m.

The figures were released by Portuguese soft drinks firm Sumolis, which holds a 20% stake in Compal. The remaining 80% is held by state-owned bank Caixa Geral de Depositos.