Czech Brewer Budvar Reports Profit Jump
PRAGUE (AP) — State-owned Czech brewery Budvar, which has been fighting a long legal battle with American brewer Anheuser-Busch over the use of the "Budweiser" brand, says its 2010 net profit jumped 9.2 percent.
Budvar says its net profit reached 190.3 million koruna ($10.1 million) in 2011 thanks to a 7.7 percent increase in exports.
Budvar's overall 2011 output reached 1.32 million hectoliters (34.87 million gallons), 5.5 percent more than 2010.
Home sales were up 3.4 percent.
Budvar has been fighting for years with U.S. beer giant Anheuser-Busch in a number of countries over use of the famous Budweiser brand, to which both companies claim a historical right.