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 world’s 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.

Carlsberg’s 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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