Synergy Falls to 3-Month Low on Second-Half Sales: Moscow Mover

OAO Synergy, the Russian vodka maker, headed to its lowest level in almost three months after second-half sales declined, eating into its full-year profit.

The shares retreated 1 percent to 517 rubles by 4:18 p.m. in Moscow, on course for the lowest since Jan. 16.

Synergy said today sales tumbled 12 percent in the second half as administrative costs and financing expenses jumped, trimming the full-year growth to 19 percent. Net income for 2011 rose 6 percent to 1.66 billion rubles ($56 million), the vodka producer said on its website today.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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