MOSCOW, August 5 (RIA Novosti) - Baltika [RTS: PKBA], a leading Russian brewery, said Tuesday its net profit, calculated to International Financial Reporting Standards, rose 13.5%, year-on-year, in January-June to 213.6 million euros ($335 million).
Baltika, which owns 11 breweries across Russia, said its sales increased 16.8% in the reporting period to 1.2 billion euros ($1.8 billion) and earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 13% to 359 million euros ($564 million).
"Effective cost management and the development of its own agricultural project have enabled the company to set off the effects of external factors and develop faster than the market," Baltika President Anton Artemyev said.
Baltika, which controls 37% of the domestic beer market, has market capitalization of around $7 billion, with the company's controlling stake held by Carlsberg.
