ESTONIA: Saku Ölletehas sees Q3 profits level

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Saku Ölletehas has posted a flat net profit for the third quarter.

The Estonian drinks company said today (3 December) that net profit for the three months to the end of September rose fractionally on the corresponding period a year earlier, by 0.6% to EEK63.2m (US$5.9m).

Sales in the quarter climbed by 5% for Saku, hitting EEK258.5m.

Saku highlighted a tough few months for the Estonian beer market, thanks in part to "unexpected sales bans and unstable regional limitations" leading to a 5% drop in sales volumes in the year so far for the market as a whole.

Looking forward, the company, which operates in the beer, water and cider & long drink markets in Estonia,

In June, Saku said its Q1 operating profit leapt to EEK24m from EEK9.3m in the corresponding period a year earlier, thanks to a 44% leap in sales to EEK181m.

Saku Ölletehas is majority-owned by Baltic Beverages Holding, the Eastern European joint venture between Carlsberg and Scottish & Newcastle.

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