Carlsberg Warns Weak Consumer Sentiment May Hurt Beer Sales In Europe, Southeast Asia

By Donna Ahern
Carlsberg Warns Weak Consumer Sentiment May Hurt Beer Sales In Europe, Southeast Asia

Danish brewer Carlsberg on Tuesday reported third-quarter sales broadly in line with expectations but warned that weak consumer sentiment in Europe and Southeast Asia could impact beer markets negatively.

The world's third-biggest brewer said sales rose 0.3% to 20.3 billion Danish crowns ($2.89 billion) from 20.2 billion a year earlier, slightly below an estimated 20.4 billion in a company poll.

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"We delivered solid revenue growth in a challenging environment," Carlsberg's new CEO Jacob Aarup-Andersen said in a statement.

"The growth was driven by continued strong revenue per hectolitre improvement and outperformance by our premium portfolio," he said.

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Carlsberg reiterated its full-year organic operating profit of 4% to 7% after it hiked its outlook for a second time in August this year.

Carlsberg also on Tuesday launched a new quarterly share buy-back program of 1 billion Danish crowns.

Read More: Brewer Carlsberg Ends License Agreements In Russia

News by Reuters edited by Donna Ahern, Checkout. For more drinks stories click here. Click subscribe to sign up for the Checkout print edition.

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