Summary
WHEN Scottish and Newcastle bought Finnish brewer Hartwall for GBP 1.2 billion a little over two years ago, the latter's jewel in the crown was its 50 per cent stake in Baltic Beverages Holding, Russia's largest brewer.
The gem sparkled. Russia, the world's fifth biggest beer market, had had a fine head on the pint for several years, with beer volume growth of a mouth-watering 20 per cent. That compared with flat volumes in the two other markets where S&N is market leader, Britain and France.See the full content of this document
Extract
S&N Find Things Are Brewing Up Nicely in Booming Russia
So it might seem S&N (and fellow BBH parent company, Denmark's Carlsberg) would be dismayed at those growth rates tailing off to 10 per cent in 2002 and about 6 per cent last year.
In addition, due to currency effects and increa...See the full content of this document
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