Abrau-Durso triples RAS net profit in Jan-Sept 2013
MOSCOW. Nov 15 (Interfax) - Russian wine maker OJSC Abrau-Durso posted net profit of 112.2 million rubles to Russian accounting standards in January-September 2013, up 240% from 33.3 million rubles in the same period of 2012, the company said in its quarterly report.
Revenue stayed at around the same level as last year at 64.8 million rubles. Sales costs fell to 32.3 million rubles from 44.5 million rubles and gross profit grew to 32.6 million rubles from 20.3 million rubles in January-September 2012.
OJSC Abrau-Durso manages the assets of the eponymous sparkling wine house owned by the SVL group.
The Abrau-Durso estate was established in 1870 by order of Tsar Alexander II. In the Soviet era, Abrau-Durso was the leading maker of Soviet sparkling wine. SVL, headed by Boris Titov, who is currently Russia's ombudsman for entrepreneurs' rights, bought 58% of the winery in 2006. In 2011, the company bought 42% of shares from an eponymous government company owned by the Krasnodar Territory.
Nielsen estimates Abrau-Durso's market share in Russia's 19 largest cities at 5.5% by volume and 8.3% by value.
