Ukraine: SABMiller’s subsidiary boosts output, profits in 2011

Miller Bands Ukraine, a subsidiary of international brewing giant SABMiller, sharply cut its losses in Ukraine last year while boosting output by 51.4 percent to 1.64 hl of beer, Kyiv Post reported on February, 19.

According to figures provided by the National Securities and Stock Market Commission, the Donetsk-based brewer’s net loss fell by 35.7 percent in 2011 to Hr120.9 million. Profits amounted to Hr1.2 billion, up slightly from Hr1.1 billion in 2010.

SABMiller acquired a nearly 100 percent stake in the business back in 2008, when it was called Sarmat and owned by Ukraine’s richest man, Rinat Akhmetov.

The company sells beer under the Sarmat and Zhygulivske, Zolotaya Bochka, Velkopopovicky Kozel and Amsterdam Mariner brands.

22 February, 2012