Wednesday 6 February 2019 11:08 am

China gives Carlsberg a bright spot but boss warns profit growth could slow

Carlsberg trumped expectations this morning after a bumper summer and appetite from Asia helped boosted sales, despite the brewing giant's boss warning that growth is likely to slow in the year ahead.

Buoyed by consumer demand in China and prolonged summer weather across much of Northern Europe, the Danish brewer said that net profits had more than tripled over the course of 2018.

Shares in the beer giant climbed four per cent on the back of the better-than-expected results, which saw Carlsberg’s sales return to growth for the first time in three years.

Full-year net profit soared to £5.3bn Danish crowns (£626m) in 2018, rising from 1.2bn Danish crowns in the previous year.

Meanwhile, sales came in at 13.9bn Danish crowns during the final three months of 2018, trumping the 13.5bn Danish crowns expected by analysts in a Reuters poll.

However, boss Cees ‘t Hart struck a cautious tone on the back of the results, saying: “It’s difficult to predict what the summer will be like, but in 2019 the top line will probably be a bit more modest after such a strong year.”