OAO Yarpivo Brewery, the Baltic Beverage Holdings-owned Russian brewery, anticipates net profit for 2003 of US$47.4m. It achieved net profit of US$42m in 2002.

Forecasted revenue is US$207m, an increase of 29% thanks to strong volumes increases of 14% to 530m litres. The company also said there had been more focus on higher margin brands in the portfolio.

Yarpivo has around 7.2% of the Russian market, the company said, compared with an estimate of 6.2% a year ago.

Baltic Beverage Holdings is owned by Scottish & Newcastle and Carlsberg.