COPENHAGEN (Reuters) – Danish brewer Carlsberg on Wednesday reported second-quarter sales in line with expectations, buoyed by its premium brands and growth in Asian markets.
Turnover during the period reached 21.4 billion crowns (2.87 million euros), up 4% on the previous year. An analyst consensus provided by the company predicted 21.5 billion crowns.
“We are pleased with this strong set of results, which have been achieved in a challenging environment,” Cees’t Hart, outgoing chief executive, said in a statement.
“The strategic health of our business continues to improve, as evidenced by the growth of our premium international brands and continued growth in key Asian markets,” he added.
Cees’t Hart, who took over as CEO of Carlsberg in 2015, will be replaced by chief executive of consultancy ISS Jacob Aarup Andersen on September 1.
On Tuesday, Carlsberg revised its profit forecast for the full year upwards on Tuesday. The company now expects organic revenue growth in 2023 of between 4% and 7%, compared to a previous range of between less than 2% and more than 5%.
The Carlsberg title fell by 2.47% on the stock market at 07:35 GMT.
“After yesterday’s positive stock price reaction, we expect a relatively muted reaction,” Jefferies analysts said in a note, though they described the revised outlook as conservative.
(Report Jacob Gronholt-Pedersen, Stéphanie Hamel, edited by Kate Entringer)
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