Czech beverage firm Kofola Group has reported a 8.4% drop in sales during the first three months of its financial year, to CZK 1.34 billion (€50.4 million).
The decline was due to lower sales in Poland and in the Czech Republic, partially offset by growth in Slovakia, Slovenia and Croatia.
Net loss deepened to CZK 68.4 million (€2.57 million) from CZK 21 million in the same period last year.
Carbonated beverages accounted for 41.57% of sales, followed by waters (29.11%), syrups (11.26%) and non-carbonated beverages (8.07%).
In terms of geographical contribution, the Czech Republic was the main market for the company with 42.15% of total sales, followed by Slovakia (22.91%), Poland (20.78%) and Slovenia (9.74%).
The Ugo brand has made the biggest jump up within the Group’s portfolio (+31%). The company plans to support the brand further in the coming year.
Kofola Group is a leading producer and distributors of non-alcoholic beverages in CEE. It is the soft drinks market leader in Slovakia and Slovenia and the second biggest player in the Czech Republic. It is also a leading private label drinks producer in Poland and is also present in Croatia.
Key brands include Kofola, Hoop Cola, Jupí, Jupík, Rajec, Radenska, Paola, Semtex and Vinea. The Group distributes on selected markets Rauch, Evian and Badoit products and under the licence produces RC Cola and Orangina.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine