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
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »