In the last quarter (April to June this year), Carlsberg's sales amounted to 21.64 billion Danish kroner (2.9 billion euros), a slight increase compared to 21.38 billion Danish kroner a year earlier and less than analysts had predicted. The culprits are the sharp slowdown in the Chinese market and bad weather in June. Volumes fell by 3 percent, retaildetail.eu reports.
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Carlsberg results below forecasts, but…
For the first six months of this year, net profit came to 3.74 billion Danish kroner (501.2 million euros) on revenue of 38.8 billion kroner. Although this also meant that profits were once again slightly higher than a year earlier, analysts had been expecting a net profit of 3.95 billion kroner. The brewery consistently failed to meet forecasts on all fronts.
Nevertheless, the manufacturer is raising its full-year profit forecast. CEO Jacob Aarup-Andersen cites solid results and good cost control. He now expects operating profit to grow organically by 4 to 6 percent, up from the previously forecast 1 to 5 percent.
