E-Malt.com News article: 331

Finnish brewer Hartwall, currently being bought by the UK's Scottish & Newcastle (S&N), has reported strong results in the first half of 2002. The group registered a net sales rise of 33% to EUR 484 million, and a volume rise of 27%. Profit before extraordinary items leapt 23% to EUR 79.3 million (US$76.92m), compared to the same period last year. The success is mainly due to its Russian joint venture with Carlsberg , Baltic Beverage Holdings (BBH). This Russian joint venture made up 66% of Hartwall's sales and 88% of its profits.

BBH managed to increase volumes by 36%, which corresponds to an increase in market share form 28% to 33%. Meanwhile Russian beer market grew by 16% in the first half of the year.


13 August, 2002