Promotions Soak Up Brewers Profits In Hungary
- 24 Nov 2010 12:00 AM
"Hungary's beer market is expected to decline 8-9% this year, despite a year-long price-slashing campaign by breweries, Borsodi Sorgyar CEO Zsolt Totos said. This kind of competition has been costly for everyone in the market, he added. Around 60% of Borsodi's sales came from promotions, he said.
The company, which has about 25% of the market, expects 2010 revenues to be close to the Ft 40.6 billion posted in 2009.
Totos said Borsodi will be forced to increase prices by 5% in December or January. "
Source: Hungary Around the Clock
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