Russian Brewing force OAO Baltika Brewery posted on November 25 the results for the first nine months of the year. For this period Baltika sold about 12.8 million hl of beer. Company’s market share accounted 20.8% for the nine months of the year. Baltika’s export increased by 7% and reached 796 thousand hl. Total sales volume (including VAT and excise duty) increased by 1% to US$ 725 million versus the same period last year. However net sales volume (excluding VAT and excise duty) decreased by 1% to US$ 555 million. Company’s net profit dropped 3.3% to US$ 111 million year-on-year and operational profit dropped 11% to US$ 148 million.

The company, owned by Carlsberg and Scottish & Newcastle, attributed the declines to an increase this year in beer excises.

26 November, 2003