Lebedyansky has posted a slip in net income for the first nine months of this year.

The Russian juice, mineral and baby food producer said late last week that net profit for the period dipped by 6% year-on-year to US$69m due to an increase in financial expenses.

The fall came despite a 35% leap in sales for the nine months to $699.9m. In volume terms, sales were up by 25% on the corresponding period a year earlier at 854m litres.

As a breakdown, Lebedyansky's juice sector saw sales rise by 35% to $597.2m, while mineral water delivered a 154% lift in sales to $13.5m.

In volume terms, juice sales were up 21% to 740.2m, with mineral water sales jumping by 110% to 61.3m litres.

According to the latest research by AC Nielsen, Lebedyansky accounted for 30% of the Russian juice market in volume terms as of late Q3, and 30.7% in terms of value.

In August, Lebedyansky dismissed speculation that it was looking to sell a majority stake to PepsiCo. Reports at the time claimed that PepsiCo was poised to buy 76% of Lebedyansky in a deal worth over $1.5bn. A spokesperson for the company said: "We are not currently talking to PepsiCo."