Finland

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Finland: State booze retailer Alko announces 8.5% sales drop in 2018

Finnish state alcohol retailer Alko announced that 2018 sales were down and that its turnover last year fell to 543 million euros, compared to 596 million euros the previous year. It also announced on Tuesday that operating profits had decreased to 46 million euros from the previous year’s 53 million euros.

The firm said sales were hurt by supermarkets and other stores gaining the legal right to sell beer and alcopops containing up to 5.5 percent alcohol last year.

Alko CEO Leena Laitinen said profits were better than the company had anticipated, saying that the decline was a direct result of the alcohol reforms.

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