Carlsberg upgrades FY forecast, Heineken reiterates outlook | Progresiv
Heineken and Carlsberg both sounded an optimistic note yesterday, citing good results in they key markets of Europe and the Americas. 
Carlsberg said its third-quarter revenues and profits were higher than expected, prompting it to raise its forecast for the full year. The group, which will offer detailed results on 1 November, said the growth was helped primarily by a warm summer in Western Europe and “strong execution of Funding the Journey” programme.
The Danish brewer now expects FY operating profit to grow by 10%-11% on an organic basis, up from a previous forecast of high-single-digit growth. The upgrade comes despite an expected impact of 500m kroner due to currency fluctuations, up from a previous forecast of 425m kroner.
Meanwhile, Heineken said its third-quarter beer volumes grew by 4.4%, driven by an 8.1% increase in the Americas. It also reported solid growth in Asia Pacific (+3.7%), Europe (+2.2%), and Africa, Middle East & Eastern Europe (+2.3%). The Heineken brand itself continued to “outperform”, recording a 9.2% rise in volumes on an organic basis.
CEO Jean-Francois van Boxmeer said the results were buoyed by good weather in Europe and strong growth in Brazil, Mexico, Vietnam and South Africa. However, the Dutch group left its forecast unchanged. (www.kamcity.com)
