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DENMARK: Carlsberg remains optimistic about Russian market

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The Danish brewer Carlsberg Breweries has offered a ray of light for the Russian beer market after a week of bad news about sales by saying it expects the country’s beer market to grow by 7-12%.

The forecast comes despite a more gloomy outlook by its leading Russian unit Baltika, which earlier this week said it expected Russian beer growth to fall to 4-5% in 2003. The market is expected to grow 8-10% this year.

"We stick to our recent market forecast," Carlsberg Breweries spokeswoman Margrethe Skov was reported as saying today.

Baltika is 73.6% percent owned by Baltic Beverage Holding (BBH), which in turn is 50-50 owned by Carlsberg Breweries and Scottish & Newcastle

I In its recent nine-month report, Carlsberg group saw third-quarter volume growth of 14% from BBH, down from 40% for the first six months of 2002.


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