RUSSIA: Baltika posts leap in earnings
Russian brewer Baltika has reported a 35% leap in net profit for the nine months to the end of September.
Baltika, owned by a venture between Carlsberg and Scottish & Newcastle, today (13 November) posted net profit of EUR260.6m (US$333.8m).
The brewer saw sales soar by almost 77% to EUR1.4bn after its merger with three other Russian breweries owned by the venture, Baltic Beverages Holding.
The merger of Baltika with the Pikra, Vena and Yarpivo breweries is expected to save between US$60-80m in distribution costs.
Earlier this month, Baltika said it is considering building a brewery in the Siberian city of Novosibirsk next year.
Baltika has credited its "successful merger" with three other Russian breweries for a strong performance in the first quarter....
Danish brewer Carlsberg has posted a 14% rise in net revenues for the first quarter and raised its profit forecast for the full year....
Baltic Beverages Holding AB (BBH), the joint venture between Carlsberg and Scottish & Newcastle, has recorded a 43.8% rise in net sales for the first quarter of 2007 to EUR492m (US$645m)....
The head of sponsorship at Coca-Cola has left to join Diageo as global sponsorship director....
An investment bank has shifted its coverage for both Scottish & Newcastle and Carlsberg....
Carlsberg has warned of the potential dangers it faces should it look to buy Scottish & Newcastle out of its joint venture in Eastern Europe. The Danish brewer announced late last week that it was loo...
Carlsberg is looking to amend its charter, which could open the door for a bid for Scottish & Newcastle....
Scottish & Newcastle has had an "encouraging start" to 2007, according to the brewer's chairman....
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