World: Carlsberg�s 2019 net profit rises nearly 24%

Danish brewer Carlsberg says its 2019 net profit rose nearly 24% to 6.6 billion kroner ($977 million) on strong beer sales in major markets, but noted it had lost market share in Russia due to tough competition.

The company said on February 4 its revenue increased 5.4% to 65.9 billion kroner ($9.76 billion).

The brewer said it �delivered well� despite �experiencing a continued difficult competitive environment in Russia.� The Russian market saw low-single-digit growth and Carlsberg said it had lost market share, adding the total volumes were down by 8%.

�At the same time, we are facing a more volatile business environment including the current coronavirus outbreak in China, of which the full impact is not yet known,� the group said, adding its Chinese business continued to deliver strong performance.

CEO Cees �t Hart said he was �pleased with our results in 2019� and said its operating profit outlook for 2020 was �mid-single-digit percentage organic growth.�