© Reuters. A bar worker carries a tray of Carlsberg beer in Copenhagen, Denmark, July 30, 2022. REUTERS/Andrew Kelly/Files
COPENHAGEN (Reuters) – Danish brewer Carlsberg (OTC:) on Wednesday reported third-quarter sales broadly in line with expectations and lifted its profit forecast for the year despite weakening consumer sentiment.
The world’s third-biggest brewer said revenue in the quarter rose 14% to 20.2 billion Danish crowns ($2.72 billion) on the back of strong Asia sales, compared with the 20.3 billion forecast by analysts in a poll compiled by the company.
Sales in Asia grew organically by 19% in the period, with volumes up 10%, but the firm cautioned that the outlook remained uncertain.
“The business environment remains challenging, with an uncertain macro situation, very high inflation and weakening consumer sentiment,” Chief Executive Cees ‘t Hart said in a statement. Heineken NV, the world’s second-largest brewer, said on Wednesday it had seen signs of slowdown in demand for its beer in some European markets over recent weeks, after its third-quarter sales rose by less than expected.
Carlsberg now expects organic profit growth of 10-12% this year, compared to a previous guidance for “high single-digit-percentage” growth.
($1 = 7.4243 Danish crowns)
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