Moscow, March 15 - Russia's top brewery Baltika, which last year merged with three smaller breweries, reported a 42 percent rise in 2006 net profit to 330.9 million euros ($436.4 million).
Baltika, owned by Scottish & Newcastle and Carlsberg, said its 2006 revenues increased to 1.739 billion euros ($2.29 billion) from 1.440 billion euros in 2005.
"All factors such as volume growth, average prices and change of currency rate (chain index) contributed to net sales growth," Baltika said in a statement.
It said that while its market share edged up to 36.4 percent in 2006 from 36.3 percent in 2005 it sold more expensive beers in 2006 than in 2005.
The share of licensed beers in sales rose to 22.5 percent from 19.9 percent, while the share of premium beers increased to 43.6 percent from 43.3 percent.
The share of mainstream beers weakened to 49.9 percent from 51.9 percent, while the share of discount beers edged up to 24.5 percent from 24.2 percent.
Earnings before interest, taxation, depreciation and amortisation amounted to 555.9 million euros, a 37.4 percent rise on 2005 levels.
EBITDA margin edged up to 32 percent from 28.1 percent. The company sold 37.16 hectolitres of beer in 2006, a 10.3 percent rise on 2005 levels.
Last year Baltika merged with Vena, Pikra and Yarpivo breweries and said that as a result of the acquisition the company had added 68.7 million euros of goodwill.
The company had also said the merger was expected to save $60 million to $80 million in distribution costs.