World: Carlsberg reports 14% rise in third-quarter revenue, lifts annual profit forecast
Danish brewer Carlsberg on October 26 reported third-quarter sales broadly in line with expectations and lifted its profit forecast for the year despite weakening consumer sentiment.
The worlds third-biggest brewer said revenue in the quarter rose 14% to 20.2 billion Danish crowns ($2.72 billion) on the back of strong Asia sales, compared with the 20.3 billion forecast by analysts in a poll compiled by the company.
Sales in Asia grew 19% in the period, with volumes up 10%, but the firm cautioned that the outlook remained uncertain.
The business environment remains challenging, with an uncertain macro situation, very high inflation and weakening consumer sentiment, Chief Executive Cees t Hart said in a statement.
Carlsbergs shares were down 2.5% at 1222 GMT, recouping much of its losses in early trading on the weak Heineken outlook.
Carlsberg lifted its outlook after a better-than-expected performance in many of our markets and now expects organic profit growth of 10-12% this year, compared to a previous guidance for high single-digit-percentage growth.
It also increased its share buy-back programme for the fourth quarter to 1.5 billion crowns from 1 billion crowns in the third quarter.
The firm, which released the numbers one day earlier than planned, does not provide earnings in its third-quarter trading statements.
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