Carlsberg forecasts 10 percent profit hike in 2019

Denmark | Danish brewer Carlsberg has revised upwards its annual profit growth outlook on 4 November 2019, saying it now expects organic operating profit to rise by around 10 percent, versus a previous forecast for a “high single-digit” percentage increase.

The world’s number three brewer cited solid earnings in its major markets Western Europe and China, which it said had more than offset weakness in Russia, its second largest market.

The Danish brewer said in a trading statement on 7 November 2019, that sales in the third quarter came in at DKK 18.5 billion (USD 2.76 billion), above analysts’ forecast of  DKK 18.2 billion. It did not disclose any earnings figures, though.

The latest upgrade to the group’s profit guidance contrasts with full-year profit warnings by rivals AB-InBev and Heineken, following slow sales in their main markets in the third quarter.