RUSSIA: Vodka firm Synergy toasts '07 results
Russian vodka producer Synergy reported a 30% rise in 2007 net profit as a result of key acquisitions and good revenue growth.
Net profit rose to RUB896m (US$38m) as revenue jumped 58% to RUB11.35bn.
EBITDA was up 63% to RUB1.80 billion.
The company said today (23 May) it was "completely satisfied" with the 2007 results and that they were in line with its plans.
Last year, Synergy made the first IPO in the Russian distilled spirits sector last year and acquired the Beluga and Belen'kaya brands.
This year, Synergy bought Myagkov, one of the leading vodka brands in the sub-premium segment.
"We are happy to enter 2008 year as a dynamically developing company that operates in the largest vodka market in the world," said Alexander Mechetin, CEO of Synergy. "We continue to focus on building our market leadership, increasing our efficiency as a company, and delivering significant value for our customers and shareholders."
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