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Printed from: http://petersburgcity.com/news/business/2003/08/27/baltika/ Business news, 27.08.2003 18:13 Baltika Net Falls 11% for First Half of 2003![]() In addition, the sharp increase in the value-added tax early in 2003 had a significant lowering effect on sales. The volume of sales (including VAT and excise taxes) in the January-June period this year came to USD 440 million, 4% under the year before. Actual volume of sales was down 6%, to USD 336 million. Baltika sold 8 million hecto-kilolitres of beer in the first half of 2003. First-half data had the company holding 21.1% of the Russian domestic beer market. Export sales for the firm were up 9% as compared with sales in the first half of 2002 and came to 497,000 hecto-kilolitres. Baltika, founded in 1990, registered in July 1992. Its original book value was approximately USD 40.2 million divided among 107,087,200 units of common stock and 13,485,600 shares of preferred Type A with par value of 1 rouble. The chief stockholder is Baltika Beverage Holding (with 74.24% of the company's stock).
News source: www.rosbaltnews.com
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