Russia: Ochakovo net profit increased to RUR311.5 million in January-September 2006

Ochakovo released its 9 months to September 2006 financial results, according to which the company outperformed a 2.5 times increase of its net profit which reached RUR311.5 million. The company’s earnings excluding excise duties and other similar fiscal charges attained RUR 5.773 billion (+13%), The Russian brewers Union announced November 13.

The company refers the outstanding financial performance to the increase of the profitableness of sales corroborated to a significant decrease of costs.

Sales kept on growing, leaded by a 71% increase of kvass deliveries.

“In 2007 the company intends to maintain and to ameliorate the positive dynamics of sales emphasizing upon the expansion of the “premium” beer segment. In this respect, the company prepares to release the “Stolichnoye” brand and wants to improve sales of non-alcoholic kvass,” Ochakovo general director Vladimir Antonov stated.

The brewer is at the origins of a large-scale advertising campaign for 2007 for which it secured nearly US$20 million.