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
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »