CEO: Russia’s Abrau-Durso plans aggressive asset purchase

MOSCOW, Sep 1 (PRIME) -- Russian winery Abrau-Durso plans to aggressively extend its asset volume through purchases, CEO Pavel Titov told reporters on Thursday.

“We plan to show a quite aggressive behavior on the market. We want to continue merger and acquisition deals,” Titov said.

Earlier in August, Abrau-Durso bought bankrupt winery Russkaya Loza for 190.35 million rubles.

Titov also said that the wine maker plans to raise sales by 12% in real terms in 2016. He also said that the company expects a higher net profit this year. “The rate (of the ruble) has stabilized and we have seriously worked on the loan portfolio.”

End