Anadolu Efes reports profit jump
Anadolu Efes said net profit in 2009 jumped 36 percent to 423 million lira. The market expected net profit to come in at 438 million lira. Sales were up 3.9 percent to 3.81 billion lira.
Regarding the development in the current year, Anadolu Efes’ head of beer operations, Alejandro Jimenez said: "We are facing a series of new difficulties, such as big increases in special consumption tax for the beer sector in our biggest markets Turkey and Russia in 2010." He added that bee volume in Turkey may decline a low single-digit percentage rate this year, after rising 0.5 percent in 2009. Anadolu Efes has an 80 percent market share in Turkey.
Furthermore, the company announced that acquired the remaining stake in Efes Breweries, thus controlling 99.45 percent in Efes Brewery.
By Claudius Strehlau
Based on the following sources:
http://beveragemanager.net
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