Russian beer sales have contracted by 10 percent from January to September, according to Carlsberg’s Q3 report.
By Chris Farnell
Sales in Russia, which make up about half of Carlsberg’s profits, are likely to be further damaged next year as the Russian Government is proposing a significant increase to its beer excise duty in 2010. Carlsberg has said that if the increase is passed it will “clearly affect the beer market negatively.”
Despite the drop in Russian sales, where Carlsberg controls 40 percent of the market, the brewer says its annual profit will not be affected because of increased efficiencies elsewhere.
OTHER MARKETS
This includes a ‘Memorandum of Understanding’ Carlsberg has signed with the Hué People’s Committee in Vietnam, whereby the Committee confirms its support for Carlsberg to acquire its 50 percent shareholding in the Hué Brewery. Carlsberg already acquired a half share in the company in 1994.
Professor Povl Krogsgaard-Larsen, Chairman of the Carlsberg Group, said: “The acquisition marks another important milestone for Carlsberg in Vietnam and will further strengthen our already strong position in the Vietnamese market.”
Edited by Jennifer Denby
Source: http://www.carlsberggroup.com/