Beltton posts Q3 losses


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 112.562 million ($16.273 million), roughly the same as the 112.762 million recorded in Q3 of 2003.

But Beltton also reported a net loss of 10.263 million, compared to a net profit of 10.266 in last year’s Q3.

"A 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 business gifts sales (which include office products) is traditionally low in Q3 and then sharply increases in the last quarter as a result of the Christmas season.

Beltton further said that it continues to consider the possibility of growth through acquisition.

Vantaa (FIN)