Business News

Pivovarna Lasko Posts EUR 6M in Q1 Operating Profit

Lasko, 20 May (STA) - The group around brewer Pivovarna Lasko generated more than EUR 6m in operating profit in the first quarter of 2011, a leap from EUR 1.6m in the same period last year, and EUR 66.3m in sales revenues, up around 10% year-on-year, the company said on Friday.

The group around the brewer recorded EUR 11.5m in earnings before interest, tax, depreciation and amortisation (EBITDA), a 41.1% increase over the same period in 2010.

The core company Pivovarna Lasko generated EUR 2.6m in net profit, up 20% over the same period last year, which is 12% more than planned.

It generated the profit on sales revenues of EUR 15.2m, which is up 3.7% year-on-year and amounts to 18.8% of the company's plans for 2011. EBITDA at the company increased by 9.6% year-on-year to EUR 4.2m, more than 7% above projections.

The management board of Pivovarna Lasko says that the core company and the group around it managed to improve sales in the low-season first quarter, which have been declining for the past few years.

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