Carlsberg has reported an increase in profits after the Russian market enjoyed a strong three months. Buoyed by a strong rouble, Carlsberg managed to achieve an increase in quarterly profits despite another dip in the amount of beer being consumed in Russia. Operating profit rose from 3.66 billion crowns to 4.25 billion crowns, as the Danish brewer saw a lesser slowdown than had been experienced in the first quarter of 2010.
Since the £7.8 billion takeover of Scottish and Newcastle, Carlsberg has had a greater exposure to the Russian market, and is also responsible for beers such as San Miguel and Kronenburg . Russia is primarily renowned for its vodka, though the beer market is expected to decline over the next six months, largely due to a tax increase and an improving economy.
Despite this tax increase, Carlsberg continue to aim for an increased market share this year, even though the brewer recorded a 7 per cent decline in its market share during the second quarter. The company was, however, boosted by the recent good news that its major Russian drink Baltika had recorded an increase in market share from 39.1 per cent to 40.1 per cent.
Carlsberg Buoyant Despite Dip in Russian Beer Sales
Wed, 18 Aug 2010
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