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11:11
CARLSBERG BOOSTS REVENUE IN E. EUROPE 18% IN H1; BALTIKA INCREASES MARKET SHARE

Moscow, August 5 (Interfax) - Carlsberg increased sales revenue in Eastern Europe 18.4% to 9.3 billion Danish krones (about $1.8 billion) in the first half of 2009 compared to the same period of 2008, the company said in a statement.

The acquisition of Baltika Breweries, one of Russia's biggest brewers, last year was the main factor behind Carlsberg's growth in Eastern Europe in the period. Organic growth in sales revenue totaled only 1% in Eastern Europe in the half, while Baltika accounted for the rest of the growth.

Carlsberg boosted sales 26.7% to 25.8 million hectoliters in Eastern Europe in the half. Operating profit grew 58.2% to 2.64 billion krones (about $510 million).

The Russian beer market contracted 9% in the first half of 2009 and Carlsberg now forecasts the market will shrink by 5%-6% this year instead of by 2% as it previously predicted, the report says.

Baltika's market share increased to 41% in the half from 38.5% at the end of the first half of 2008.

Baltika Breweries includes eleven breweries in nine Russian regions and one in Azerbaijan. The company's main owner is Baltic Beverage Holding (BBH), which is owned by Carlsberg.

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