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. Last Updated: 07/27/2016

British Brewer Boosted by Russian Sales

LONDON -- Britain's biggest brewer, Scottish & Newcastle, said it made an encouraging start to 2007 as a slow start to the year in the British beer market was offset by better conditions in France and Russia.

The Edinburgh-based brewer of Foster's, Kronenbourg and Baltika beers said it was confident of meeting expectations for 2007, although it warned of the effect of higher interest rates and the cost of rising investment in Russia.

"Trading remains robust in our West European markets, which are highly cash generative; [Baltic Beverages Holding], driven by the newly merged Baltika, is delivering dynamic growth; and our developing markets in Asia continue to show real potential," the group said in statement.

The brewer added that it believed the Russian beer market would exceed its previous expectation, which was for the market to grow at the lower end of its medium-term 3 percent to 5 percent forecast, boosted by mild winter weather in Russia.