Russian brewer Ochakovo posted an increase in net profit of 8% in 2007 as a result of the growth in revenue and a reduction in costs, the company said today (16 May).

Net profit rose to RUB250m (US$10.5m) for the year and revenue increased 4.5% on the year to RUB7.4bn.

Ochakovo said increasing sales and improving profitability positively affected the growth of market activity, along with the promotion of its beer brands.

Growth in sales of beer for 2007 grew by 2% compared to a decline of 7% in 2006.

In December 2007, Ochakovo signed a deal with Konig Ludwig Schlossbrauerei Kaltenberg to brew Kaltenberg beer in Russia.