Carlsberg lifts 2023 profit forecast on solid first-half

DANISH brewer Carlsberg on Tuesday (Aug 15) lifted its profit guidance for the full year after a “solid business performance” in the first half of the year.

The world’s third-biggest brewer said it now expects organic operating profit growth this year of between 4 per cent and 7 per cent, versus a previous range of minus 2 per cent to plus 5 per cent.

“Based on solid business performance year to date and our expectations for the remainder of the year, we are upgrading our full-year earnings expectations for 2023,” the company said in a statement.

The Copenhagen-based company said volumes in the January to June period grew 0.8 per cent organically, while organic sales grew 11 per cent. Organic operating profit grew by 5.2 per cent in the period.

Carlsberg’s shares were 1.6 per cent higher at 1304 GMT, with the broader Copenhagen benchmark index down 0.7 per cent.

Carlsberg is due to publish a full set of first-half financial results on Wednesday. REUTERS