Beltton-Group posts weak Q3

15 November 2004 – Vantaa (FIN): Beltton-Group has reported a slow Q3 due to traditionally low demand in the quarter, but expects a more positive Q4.

The company’s turnover for the quarter was €12.562 million ($16.273 million), roughly the same as the €12.762 million recorded in the Q3 of 2003.

But the company reported a net loss of €263,000, compared to a net profit of €266,000 in the same period last year.

"The decrease in operating profit was partly due to the competition in the market," said the company in a statement. However it added that sales and profit of the business gifts sales (including office products) is traditionally low in the third quarter and then clearly increases in the last quarter due to the Christmas season.

The company also added that it continues to consider the possibility of growth through acquisition.