28 April, 2021

World: Carlsberg’s first-quarter sales slightly above expectations thanks to strong Chinese market

Danish brewer Carlsberg reported first-quarter sales slightly above expectations on April 28, helped by a strong Chinese market while Western Europe remained severely impacted by lockdowns.

The world's third-biggest brewer after Heineken and Anheuser Busch InBev increased its minimum expectations for profit growth this year and launched a new share buy-back programme.

"(Carlsberg) had a strong start to the year in Asia and Central and Eastern Europe, while Western Europe was significantly impacted by the extensive lockdowns and restrictions across the region," Chief Executive Cees 't Hart said in a statement.

Sales between January and March stood at 13.0 billion Danish crowns ($2.11 billion), compared with 12.8 billion estimated by analysts in a poll gathered by the company.

Carlsberg said it now expects operating profit to grow between 5% and 10% this year, compared with its previous guidance of 3% to 10% growth.

The brewer has also launched a new share buy-back programme, aiming to purchase shares worth 1 billion crowns until August 13.

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