RUSSIA: Yarpivo 2006 profits leap

By | 17 November 2006

Yarpivo has seen its profits for the year so far soar.

The Russian brewer, which is majority-owned by Baltic Beverages Holding, said yesterday (17 November) that net profit for the first nine months of 2006 was up by 68% on the corresponding period in 2005, coming in at RUB942.8m (US$35.4m).

Sales for the period were up by only 7%, however, at RUB5.53bn.

Yarpivo is due to merge with three other BBH-owned brewers in Russia before the end of this year. Shareholders at Yarpivo, Vena and Pikra voted in favour of merging with Baltika in August. The long-running saga, which has seen minority shareholders in the former three companies query the merger, is expected to be finalised before Christmas.

Yarpivo is based in the west Russian city of Yaroslavl.

Sectors: Beer & cider

Companies: Baltic Beverages Holding

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