RUSSIA: Carlsberg alleviates Russian growth fears
Carlsberg Breweries A/S has indicated that it believes the much-feared slowdown in the Russian beer market is not as severe as previously believed.
In an interview with the news agency Dow Jones, Carlsberg chief executive Nils Smedegaard said the company saw "a clear growth trend in 2003."
A series of lower-than-expected growth forecasts for the Russian beer market, including one from Carlsberg subsidiary Baltika at the end of last year, cast a shadow over the targets of a number of producers.
"We first predicted between 10% and 13% growth, but in the first half of 2002 we started seeing growth sometimes of 40%. But it turned out this was stockpiling by wholesalers," Andersen said.
"Then we saw a decline in the third quarter, partly also due the cold weather coming on sooner. But we still expect 10%-12% growth last year," he said.
He went on to say that while demand may not continue to surge in the way it has done in the last few years, he expected growth to remain healthy and well ahead of Western Europe.
Carlsberg Breweries controls Baltika through Baltic Beverage Holdings, a 50-50 joint venture with the UK brewer Scottish & Newcastle.
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Baltika has bought into a Siberian brewer....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
Hite Brewery Co. has signed a preliminary agreement to acquire Jinro....
Carlsberg Sverige is looking to introduce a lemon-flavoured beer to the Swedish market....
South Korea's anti-trust watchdog is to check Hite Brewery's claims to soju maker Jinro, following its victory in last week's auction....
- Review of the Year 2014 - Part V: Wine
- just Five Years Ago - Belvedere Group's Bumpy Ride
- Review of the Year 2014 - Part IV: Spirits
- Sustainability in Wine - Part IV
- CCE shows faith in Coca-Cola Life with full launch
- Campari to bag EUR19m with "non-core" assets sale
- Pernod wins consent for Glenlivet upgrade
- Tequila set for export boost after record 2014
- Crimson Wine Group appoints new CEO
- India's Kerala state to ease alcohol restrictions