Sun Interbrew reports losses
Sun Interbrew which claims to control 17% of the Russian and 20% of the Ukrainian beer market, reported losses of US$ 1.4 million in the first half of the year compared to a profit of US$7.4 million in the same period in 1999. Sales in January-June 2000 rose 8% year-on-year to reach 4.8 million hl beer.
Sun Interbrew’s sales revenue in the first six-month period increased 23% to US$114.5 million. In order to cope with rising demand, Sun Interbrew in 2001 plans to invest US$100 million in upgrading its eight breweries in Russia. According to Vladimir Shishin, General Director of the Beer Industry Association, beer production in Russia will rise to 48 million hl in 2000, up from 43 million hl in 1999 with imported beer brands continuing to decline.5% to 2.0% of the Russian beer market..
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