Carlsberg’s bottom line hit by weather but Russia improves

THE WORLD’S fourth-largest brewer Carlsberg reported a slight drop in profits yesterday, but said it stood by its full-year outlook after gaining in Russia.

The company said it was particularly pleased that efforts to drive its international brands were improving its market share in key growth regions.

“Our performance was in line with our expectation and it is particularly positive to report that we are back on a growth trend in Russia,” chief executive Jorgen Buhl Rasmussen said.

Eastern Europe and Asian sales cushioned sluggish trading in western Europe, which counted for 55 per cent of group revenue.

Carlsberg said the western European beer market was especially challenging due to poor weather conditions during the summer.

The group reported a 7.8 per cent year-on-year increase in sales to 18.8bn Danish kroner (£2bn) in the third quarter versus an 18.6bn DKr forecast. Pre-tax profit, however, fell 20 per cent to 3.15bn DKr due to restructuring costs.