Carlsberg warns that weak consumer sentiment may hurt sales in Europe, South-east Asia

DANISH brewer Carlsberg on Tuesday (Oct 31) reported third-quarter sales broadly in line with expectations but warned that weak consumer sentiment in Europe and South-east Asia could impact beer markets negatively.

The world’s third-biggest brewer said sales rose 0.3 per cent to 20.3 billion Danish crowns (S$3.94 billion) from 20.2 billion a year earlier, slightly below an estimated 20.4 billion in a company poll.

“We delivered solid revenue growth in a challenging environment,” Carlsberg’s new CEO Jacob Aarup-Andersen said in a statement.

“The growth was driven by continued strong revenue per hectolitre improvement and outperformance by our premium portfolio,” he said.

Carlsberg reiterated its full-year organic operating profit of 4 per cent to 7 per cent after it hiked its outlook for a second time in August this year.

Carlsberg also on Tuesday launched a new quarterly share buy-back program of 1 billion Danish crowns. REUTERS