Baltika beer sales boost Scottish and Newcastle profits by 14%
20 Feb, 2007 08:14
Strong sales of Baltika beer in Russia have helped UK's largest Brewer, Scottish and Newcastle, to lift annual profits by almost 14%. It owns Baltika's producer, Baltic Beverages, jointly with Carlsberg of Denmark.
Sales volumes grew almost 10%, compensating for lower consumption in Western Europe. Globally, Scottish and Newcastle reported profits of 452 MLN pounds for 2006. The company also announced it will cut costs to offset possible profit losses from a smoking ban in English and Welsh pubs.