Bacardi spirits company triples its branch's profit despite promise to leave Russia

This is reported by The Bell.

“After the announcement was spread by the press, the promises to stop exports and marketing costs disappeared from the text (but they are still available in the saved version of the page),” the agency writes and adds that the financial performance of Bacardi's subsidiary Bacardi Rus LLC has grown significantly over the year.

In March 2022, Bacardi International published a statement on its website condemning Russia's attack on Ukraine. The company promised to donate USD 1 million to the Red Cross and Mercy Corps, stop exports to Russia, and freeze investments in advertising.

The value of property, plant and equipment, revenue and net profit of Bacardi Rus increased compared to 2021. The company continues contract bottling of William Lawson's whiskey at the Georgievsky distillery. In October 2022, the plant received 227,000 liters of distillate for whiskey production. The Russian subsidiary's advertising expenses exceeded RUB 6.7 billion in 2022. Bacardi products are also available in the temporarily occupied territories of Ukraine.

• As of June 16, Ukraine’s National Agency on Corruption Prevention (NACP) had added 29 companies to the list of international sponsors of the war. Among them are, in particular, Chinese Xiaomi and Great Wall, Hungarian OTP Bank, Austrian Raiffeisen Bank International, Bonduelle, French chain Auchan, German Metro and other companies.

• On June 16, NACP for the first time removed the first company from the list of international sponsors of the war, this was Irish Peninsula Petroleum Limited.

• On June 23, the NACP added Chinese car manufacturer Geely to the list of international sponsors of the war.