Focus - Russia's Colourful Beer Market
Russia's beer market has generated way more than its fair share of headlines in 2010. Here's why.
Heineken has emerged as the immediate loser from Russia's three-fold tax rise on beer and is expected to report market share decline in its half-year results next week.
At first sight, Carlsberg would appear to have enjoyed a bumper first half of 2010. Upon delivering a whopping 57% leap in net profits for the period, the Denmark-based company went on to double its earnings guidance for the full-year. It would appear, then, that there is currently nothing rotten in the state of Denmark. But, is the future really as bright as Carlsberg suggests?
Shares in the world's largest brewers, including Anheuser-Busch InBev, Heineken and SABMiller, have dropped amid fears that they face higher costs following Russia's decision to ban grain exports.
Russian breweries produced less beer in the first half of 2010 due to a Government tax rise, according to a report.
Russia's Government has driven through its plan to triple excise tax on beer, despite fierce opposition from brewers.
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