MOSCOW, Sept 24 (Reuters) - Russian vodka producer Synergy said on Thursday its first-half net profit fell 9.6 percent to 512 million roubles ($17.07 million) due to increased financial expenses.
Synergy, maker of Beluga and Russky Lyod (Russian Ice), said it saw financial costs soar 114 percent to 634 million roubles due to the financial crisis, while managing to cut general and administrative expenses by 32 percent to 548 million roubles.
Revenues rose 8 percent to 7.8 billion roubles and earnings before interest, taxation, depreciation and amortisation (EBITDA) increased 29 percent to 1.4 billion roubles.
Gross profit rose 3.6 percent to 2.7 billion roubles.
In November 2007 Synergy, or Sinergia, became the first producer of Russia's traditional spirits to float its shares on the market. ($1=30.00 Rouble) (Reporting by Maria Kiselyova; Editing by Jon Loades-Carter)