Carlsberg tops Q1 estimates on Asian boost | Progresiv
Carlsberg has reported better-than-expected sales growth for its fiscal first quarter, helped in part by increased demand for premium beers in Asia. 
For the three months to 31 March, revenue grew by 9.3% to 13.9bn Danish crowns (+6.4% organic basis), with volumes up 6.7% (+3.4% organic).
The group recorded a 2.4% rise in organic sales across Western Europe, helped by volume growth of 1.6%, despite a slowdown towards the end of the quarter. Sales growth in Eastern Europe was stronger at 5.1%, although volumes slipped by 2.4%, due to weakness in Russia. Growth was strongest in Asia, where revenue jumped up 15.3% while volumes grew by 9.5%, helped by demand in China, Vietnam, and India.
CEO Cees ‘t Hart said: “We had a good start to the year, with particularly strong volume growth in Asia and continued solid progress of our craft and speciality, and alcohol-free portfolios.”
Carlsberg continues to expects full-year operating profit to grow by a mid-single-digit percentage, compared to last year’s 11% increase. (www.kamcity.com)
