The Pivovarna Laško beverage group returned to profit over the first nine months of the year, making net earnings of EUR 12.7m, up from a loss of EUR 10.8m in the same period last year, it said in an earnings release on Monday.
The return to profitability comes in spite of a 6% drop in net sales revenues, which stood at EUR 197m through the first three quarters.
The group blamed the drop on the sale of Kosovo subsidiary Birra Peja in June and a minor decline in domestic sales. Sales on foreign markets were up by 16.5% through three quarters, it said.
Excluding one-off events, the net profit at the group amounted to EUR 12.9m, which is slightly less than a year ago.
The core company generated revenues of EUR 71.2m in the first nine months, which is mostly on par with last year.
Its net profit amounted to EUR 1m, after it made a loss of EUR 9.4m through three quarters of 2013.
The results were reviewed by the Pivovarna Laško supervisory board on Thursday.
Source: The Slovenia Times
