Carlsberg has unveiled a sharp jump in profits, crediting strong sales in the fast-growing Russian beer market.

The brewer said on Thursday that operating profits for the first half of the year came in at 1.8bn Danish crowns ($236m), 34% up on the same period last year and in line with analysts' expectations.

Total sales were also up, rising 8% on the year to 17bn Danish crowns (�1.45bn; $2.22bn).

The company said its improved performance partly reflected a 16% increase in sales to Russia, making it the country's biggest brewer, with a one-third share of the market.

Edging ahead

Carlsberg's leading role in Russia, where demand for beer is soaring as growing numbers of younger drinkers switch from vodka, gives the company an edge over other major brewers.

US and European brewers, facing flattening sales in their home territories, are currently eager to tap into new markets in Eastern Europe, Russia, and Asia.

Carlsberg supplies the Russian market via its Baltic Beverage Holding subsidiary, which it owns jointly with Finland's biggest drinks company, Hartwall.

Hartwall is due to be taken over by the UK's biggest brewer Scottish & Newcastle later this year.

Golden goose

Hartwall, which also published results on Thursday, said its 50% stake in BBH had generated 66% of its total sales and nearly 90% of its profits.

Carlsberg said it had also managed to grow its share of its biggest market, the UK, where the brewer sells beer under the Carlsberg and Tetley brands.

Carlsberg stock jumped 7% on Thursday after the company unveiled plans to buy back some of its shares from investors later in the year.