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. Last Updated: 07/27/2016

Costs Squeeze Lebedyansky Q2 Profit

Lebedyansky, the country's top juice maker, met forecasts with a modest 2.8 percent growth in its second-quarter earnings Friday, saying gains in sales were erased by higher concentrate prices and operating costs.

The company said net profit was $29.4 million in the second quarter, to international financial reporting standards, versus $28.6 million in the second quarter of 2006.

Lebedyansky produces over one-third of Russian juices, and the world's No. 2 soft drink maker, PepsiCo, which seeks exposure to the country's market, is expected to acquire a 76 percent stake in the firm before the year's end.

In the first half of 2007, Lebedyansky juice sales rose by one-quarter from a year ago to 514.4 million liters, accounting for 86 percent of its first-half revenues. Lebedyansky said second-quarter revenues soared by about 38 percent to $266.9 million.