RUSSIA: BBH sees strong Q2 recovery
The company said that in Russia, changes to Baltika's distribution network, initiated during the low season were largely completed, and led to a much improved performance in the second quarter.
BBH saw first-half sales fell 14% to €552m (US$623m). However, in the second-quarter beer volumes clawed back from a poor first quarter, with the key Russian volumes rising 10%. In the first quarter Russian volumes had fallen 3%.
BBH maintained its forecast for volume growth of 8% to 9% for the Russian beer market in 2003.
In a statement the company said: "The second quarter, as anticipated, showed a strong improvement in volume trends from the first quarter, both within BBH and the market as a whole. BBH remains confident that full year volumes for the Russian market will show high single-digit growth."
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