Turk Tuborg, the Turkish-based brewer controlled by Carlsberg as recorded a net loss of US$11.2m for the first nine months of 2001.

The company's operating loss totalled $4.1m (4.6m euro) for the period, caused by the major denomination of the Turkish lira in February 2001, after which Tuborg beer sales fell to US$29.3m in the period. This compares to net sales of US$43.5m for the same period of 2000.

While Turk Tuborg's beer production capacity totals 300m litres a year it sold only 130.1m litres of beer from January to September 2001.

Carlsberg Breweries owns 82.5% of Tuborg.