AS Liviko Reports Stellar Export Sales

Estonia's leading spirits maker AS Liviko has reported a 32% year-on-year (y-o-y) increase in sales to EUR118mn for FY08. Turnover growth was spearheaded by the export sector, which registered a 31% y-o-y increase in volume sales to three million litres. Although the alcoholic drinks industries across Liviko's domestic and export markets (namely Latvia and Lithuania) were struck by the double-whammy of economic weakness and a sharp uptick in excise tax, Liviko managed to raise its market share. Yet FY09 promises to be an altogether more challenging obstacle.

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