Baltika Records Strong Financial Growth Across The Board

August 2008 | Company News Alert

Russia's Baltika Breweries, part of Danish brewer Carlsberg's Baltic Beverages Holding, has announced that net profits for the first half of 2008 have shot up by 13.5%, reaching EUR213.6mn (US$333.1mn), driven in large part by portfolio premiumisation. Although input cost inflation has been weighing on Baltika's profit margins, it managed to offset these through a combination of rising sales, cost management and agricultural and logistics projects, which combined to lead to a profit increase of 11.9%. With sales volumes continuing to rises along with the growth in the Russian beer market, and a number of new licensing agreements, Baltika managed

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