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Brewer slips into the red

Exceptional expenses burden Feldschlösschen-Hürlimann figures Keystone

The brewery and real estate group, Feldschlösschen-Hürlimann, has reported a loss of SFr5.3 million ($3.05 million) for the first six months of the year. Turnover was SFr542 million.

This content was published on August 31, 2000 - 11:33

A statement on Thursday from company headquarters in Rheinfelden said group results had been saddled with one-off exceptional expenses of some SFr8 million for the introduction of a new computer system and "forward-looking schemes for e-commerce".

There are no comparable figures for the same period last year because the company has changed its financial year from the brewing year to the calendar year. However, it reported growth in beer and soft drinks sales compared to the first six months of the previous calendar year.

The company said the Feldschlösschen brand and exports had performed well, but that targets for filling bottles for third parties in the wine and soft-drinks divisions had "proved over-optimistic".

It added that expectations were for "markedly improved efficiency and profit margins" for the financial year 2001. Feldschlösschen intends to sell its beverages division by the end of the year.

In the Hürlimann real estate division, the board of directors said it intends to rename the business, dropping both the Feldschlösschen and Hürlimann names, as part of a strategic reorganisation.

"This is intended firstly to emphasise the new beginning and secondly to highlight that the market leader in the Swiss drinks sector shall continue to be Feldschlösschen Beverages Holding," the company said

The statement added that there was considerable domestic and foreign interest for the entire beverages division, or the possible separation of the mineral water business.

swissinfo with agencies

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