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Danish brewer Carlsberg third-quarter operating profits increase

Business Materials 5 November 2008 14:19 (UTC +04:00)

Danish brewer Carlsberg's third-quarter operating profit increased, the group said Wednesday but noted that beer sales in expanding markets in Russia and Eastern Europe were impacted by bad weather in the quarter, reported dpa.

The quarter's operating profit before special items was 3.05 billion kroner (525 million dollars), compared to 2.07 billion kroner for the corresponding business period in 2007.

Turnover in the quarter surged from 12.4 billion to 18.44 billion kroner year-on-year, while net profit was up from 1.3 billion to 1.4 billion kroner.

During the nine-month period January to September, Carlsberg's beer sales increased 32 per cent, of which 4 per cent was in existing markets, while acquisitions accounted for 28 per cent of the growth.

The financial crisis had contributed to "a more negative consumer and customer sentiment across most markets" and the group was preparing restructuring programmes in Britain, France and the Baltic states.

The Danish brewer has sales in more than 150 markets and sold the equivalent of 95 million bottles of beer a day in 2007.

In its outlook for full-year 2008, the group said it estimated some 8 per cent organic growth in net revenue to 7.9 billion kroner, down from the earlier estimate of 8.1 billion kroner.

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