🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Carlsberg maintains profit forecast despite lower beer volumes in China, France, UK

Published 10/31/2024, 03:14 AM
Updated 10/31/2024, 04:11 AM
© Reuters. FILE PHOTO: A Carlsberg beer sits on a table in a restaurant in Copenhagen, Denmark, July 30, 2022. REUTERS/Andrew Kelly/File Photo
CARLb
-

COPENHAGEN (Reuters) - Brewer Carlsberg (CSE:CARLb) reported third-quarter sales in line with expectations on Thursday and said it maintained its full-year earnings forecast despite lower beer volumes in China, France and the UK.

Carlsberg said it still expects full-year organic operating profit growth at between 4% and 6%. The company lifted its full-year guidance in August.

The Danish company said sales between July and September rose 1% to 20.5 billion Danish crowns ($2.98 billion), compared with 20.7 billion expected on average by analysts in a poll gathered by the company.

"It was a tough quarter, impacted by a challenging consumer environment and weather," CEO Jacob Aarup-Andersen said in a statement.

© Reuters. FILE PHOTO: A Carlsberg beer sits on a table in a restaurant in Copenhagen, Denmark, July 30, 2022. REUTERS/Andrew Kelly/File Photo

"Nevertheless, we delivered volume and revenue growth in the majority of our markets, although lower volumes in China, France and the UK impacted overall Group performance."

Carlsberg, the maker of brands such as Kronenbourg 1664, Tuborg and Somersby, is the world's third-largest brewer behind Anheuser-Busch Inbev and Heineken (AS:HEIN).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.