Nine-month profit restores shareholder confidence at Bere Azuga, after losses last year

Bere Azuga, one of the country’s largest beer producers, saw nine-month revenues going up 46.5 percent, to 23.3 million lei. In the same period last year the company’s revenues saw a total of 16 million lei. The company expects revenues of approximately 10 million euros this year. Bere Azuga invested 3 million euros in the increase of its production capacity.

The beer producer sold some 143,000 hectoliters of beer in the first nine months of the year, up 36 percent against the same period last year. The company wants to boost beer production to 700,000 hectoliters by 2009.

The company has a market value of 28.2 million lei. Bere Azuga shares are traded on the Rasdaq over-the-counter market, under the BEGY symbol. The company’s share capital stands at 5.9 million lei, being divided into 2.35 million shares with a face value of 2.50 lei.

Source: NewsIn