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Article: Baltic Beverages Holding's losses in Ukraine jump 70% in Q1.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- May 28, 2008
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Baltic Beverages Holding's losses in Ukraine jump 70% in Q1
KYIV. May 28 (Interfax) - Baltic Beverages Holding (BBH), one of the biggest beer producers in Ukraine, saw its net loss in the country jump 70% year-on-year to 39 million hryvni.
"We had losses in the first quarter, and they are higher than in the first quarter of 2007. But there is nothing unexpected in this," BBH general director in Ukraine Pyotr Chernyshov said at a press conference on Tuesday.
The main reason for the loss in the quarter was the sharp increase in prices for raw materials, some of which surged as much as 10-fold, while beer prices rose by an average of only 8%, he ...