Miller Bands Ukraine, a large domestic beer producer and subsidiary of international brewing giant SABMiller, sharply cut its losses in Ukraine last year while boosting output by 51.4 percent to 16.4 decaliters of beer.
Citing figures provided by the National Securities and Stock Market Commission, Interfax-Ukraine reported that the Donetsk-based brewer’s net loss fell by 35.7 percent in 2011 to Hr 120.9 million. Profits amounted to Hr 1.2 billion, up slightly from Hr 1.1. billion in 2010.
SABMiller acquired a nearly 100 percent stake in the business back in 2008, when it was called Sarmat and owned by Ukraine’s richest man, Rinat Akhmetov.
The company sells beer under the Sarmat and Zhygulivske, Zolotaya Bochka, Velkopopovicky Kozel and Amsterdam Mariner brands.