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PORTUGAL: Sumolis sees H1 losses grow

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Sumolis has posted a net loss for the first six months of this year. The Portuguese soft drinks and beer producer said yesterday (29 September) that operating net loss for the period was €1m (US$1.21m), while consolidated net loss totalled €2.9m.

Although comparative figures were not released, in the first three months of this year, Sumolis saw net losses rise to €2.2m from €524,000 a year earlier.

Total turnover for Sumolis for the six-month period fell by 10.6% year-on-year to €76.9m. Sales of soft drinks and beer both at home and abroad were down by 11.5% to €68.6m.

The company forecast full year turnover to reach between €160m and €165m. Sumolis also plans to invest around €5.1m in the modernisation and expansion of its production facilities in Portugal by the end of this year.


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