E-Malt.com News article: 672
Hartwall Group, based in Helsinki, Finland, a subsidiary of Scottish and Newcastle, announced on February 20 full year results for the twelve months January – December 2002. The results show a strong operating & financial performance in the period. Hartwall Group reported EUR 958.0 million net sales -18.6% up from the previous year; EUR 188.8 million operating profit – 16.2% up. The results are based on the accounting policies of Hartwall and have not been adjusted for the policies of Scottish & Newcastle plc.
The financial statements do not incorporate the impact of fair value adjustments nor goodwill arising from the acquisition of Hartwall by S&N. S&N will consolidate the results of Hartwall from May 2002.
20 February, 2003