Carlsberg Adjusts Its 2019 Earnings Expectations
Carlsberg has said that it is adjusting its 2019 earnings expectations upwards, due to a 'strong financial performance' in the first six months of the year.
It said that during the period, it reported 4.2% organic net revenue growth, 1.4% organic total volume growth and a 'strong operating margin improvement'.
As a result of this performance, the brewer now expects to report high-single-digit percentage growth in organic operating profit for the full year, up on its prior forecast of mid-single-digit percentage growth.
Announcing its first-quarter results on the 2 May, the Danish brewer reported a 9% jump in sales, partly buoyed by Asian drinkers switching to more expensive beers.
Positive currency movements and an acquisition in Cambodia also helped the world's third-largest brewer, behind Anheuser Busch InBev and Heineken, grow Asian sales by 28% year-on-year in the first quarter ended March, it said.
The company is due to release its first-half financial statements next Thursday, 15 August.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.