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2009-01-26 09:30:00 CET 2009-01-26 09:30:01 CET REGULATED INFORMATION Stumbras AB - Notification on material eventCancellation of Company's financial forecast till 2011On 25th of April 2007 Stumbras AB announced its financial forecast till the year of 2011. Since the release date of the forecast, there has been some significant changes in the market conditions and therefore, Company decided to revoke this financial forecast. “Government's alcohol excise policy in the last 1,5 years has caused a significant rise in strong alcohol prices, which is dragging down production sales - people just can't afford buying quality production anymore and are substituting it with that of less quality or even shifting away to consumption of illegal drinks. Because of this situation, the current state of the Lithuanian economy and it's uncertainty in the future, the Company decided to revoke its announced financial forecast till the year of 2011” - Company's marketing director, Algirdas Čiburys. Algirdas Čiburys Marketing director +370 5 2786 309 |
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