Oslo Firm_s Profits.
Published:
10 June 1999 y., Thursday
Norwegian indus-trial group Orkia ASA said Friday that lower earnings from Russian beer helped depress pretax profits by 40 per-cent in the first four months of 1999 and it forecast a mixed outlook for the rest of the year. Orkia, whose interests range from soft drinks to newspapers, said pretax profits fell to 468 million kroner ($58.5 million) in January to April from 778 million in the same period of 1998. The results were weaker than most analysts_ forecast, especially for chem-icals, beverages and foods. Baltic Beverages, which Orkia owns 50-50 with Finland_s Hartwall, is a ma-jority shareholder in St. Petersburg_s Baltika Brewery. Baltika sales rose by 25 percent to 287 million liters but a weaker ruble cut Orkla_s share of profit to 67 million kroner from 167 million. Orkla_s overall operating revenues gained to 9.63 billion kroner from 9.58 billion while operating profits fell to 341 million kroner from 474 million. Net profit fell to 342 million from 576 million. Orkla_s overall beverages division swung to a loss of 35 million kroner from a profit of 70 million, also partly hit by the end of a production deal with U.S. soft drinks giant Coca-Cola.
Šaltinis:
Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »