Hungarian brewer Borsodi Sörgyár targets average annual revenue growth of 1-3% for the coming years starting in 2011, CEO Zsolt Tőtös said.
This year, Borsodi Sörgyár expects revenue to be about last year's HUF 40.6 billion, Tőtös said. Pre-tax profit in 2011 will also probably reach last year's level of HUF 1.7 billion, he added.
The brewer expects Hungary's beer market to contract 8-9% in 2010, falling under 6m hectoliters.
Borsodi Sörgyár will be forced to raise prices about 5% in December or January, Tőtös said. The increase is less than the 6-7% rise at the beginning of 2010, the larger part of which has been eroded by inflation, he added.
Borsodi Sörgyár controls about a quarter of Hungary's beer market. (MTI – Econews)