RUSSIA: Yarpivo figures and market share on the up
Yarpivo has posted a rise in sales and net profit for the first nine months of this year, while administration costs tripled.
The Russian Brewers Union yesterday announced that the brewer saw net profit climb by 11% to RUB1.19 billion (US$40m) on the back of sales of RUB4.8 billion, an increase of 27%. Administrative costs rose to RUB2.32 billion, while cost of production climbed by 21% to RUB2.48 billion.
The strong figures allowed Yarpivo to increase its market share in Russia to 7.2% at the end of September. At the beginning of this year, the brewer held 6% of the market.
The company, owned by Baltic Beverage Holdings, also said that its volume sales for the first 11 months of 2003 rose by 13% to 490m litres.
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