Carlsberg, the Danish brewer bidding for Scottish & Newcastle (S&N), faces pressure to increase its offer after Baltic Beverages Holding (BBH), a joint venture between the two groups, reported strong figures yesterday.

The war of words between the two brewers also gathered pace as Britain’s biggest beer producer complained that it was being prevented by Carlsberg from providing comprehensive guidance on prospects for BBH.

Ian McHoul, the finance director of S&N, said that he could not give certain financial information on BBH because of conditions in the joint venture agreement with Carlsberg.

“We’d be happy to waive those clauses but I suspect that Carlsberg won’t,” he said. “Clearly, there is a conflict of interest on the information given out on BBH from ourselves and from Carlsberg.”

BBH reported a 16 per cent jump in third-quarter beer volumes, with its key Baltika business in Russia achieving an 11 per cent increase against a market up 9 per cent. As a result of the figures, BBH said that it was raising its full-year guidance for volume growth in the Russian market from 11-to13 per cent to 13-to15 per cent, while operating margins would be in line with last year’s, despite higher costs.

S&N reiterated its view that Carlsberg, which has made an indicative £9 billion bid in tandem with Heineken, had breached the terms of the BBH agreement by its actions and that Carlsberg was “obliged” to sell its 50 per cent share to S&N.

However, Carlsberg insisted that an arbitration claim launched last week by S&N had “absolutely no merit whatsoever” and it reserved its position “with regard to a claim for material damages” against the Edinburgh-based brewer.

Meanwhile, speculation intensified that S&N could attract a counterbid. SABMiller and Anheuser-Busch have so far been seen as the likeliest suitors but last night InBev, the Belgian owner of Stella Artois, was rumoured also to be considering its options, despite possible competition issues.

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