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 firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com