Get the app today! App Store Play Store

Carlsberg Agrees To Buy Out Cambodian Brewery, Posts Upbeat Q3 Sales

Published on Oct 31 2019 9:53 AM in Drinks tagged: Trending Posts / Carlsberg / Cambrew

Carlsberg Agrees To Buy Out Cambodian Brewery, Posts Upbeat Q3 Sales

Carlsberg reported a 5.3% rise in third quarter sales, boosted by strong sales in Asia and Western Europe, and said it had agreed to buy the remaining stake in a Cambodian brewery that it does not already own.

The Danish brewer said in a trading statement on Thursday sales in the third quarter came in at 18.5 billion Danish crowns ($2.76 billion), above the 18.2 billion forecast by the 22 analysts in a poll compiled by Carlsberg.

The world's third biggest brewer's price mix, which indicates whether the company sold more of its expensive beer, was 4%.

"We're pleased that we've been able to deliver solid revenue growth for the quarter despite tough comparables from last year," chief executive Cees 't Hart said in the statement.

Cambrew Buy Out

The company said in a separate statement it had agreed to buy the remaining 25% of Cambodian brewery Cambrew, one of the largest breweries in the country.

The company did not disclose earnings figures but maintained its annual profit outlook, which it had upgraded on Monday, and said a positive currency impact on operating profit was now seen at around 150 million crowns, up from 100 million previously.

News by Reuters, edited by Donna Ahern, Checkout. Click subscribe to sign up for the Checkout print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email