Carlsberg earnings remain flat on poor European sales
Danish brewer says Asia growth fails to offset mature markets
The brewer kept its 2013 financial guidance unchanged but cut its Russia beer market growth outlook to a mid-single- digit percentage decline from earlier forecasts for a flat market as consumer sentiment remains subdued.
Operating profit (EBIT) before special items fell slightly to 3.44 billion Danish crowns (€461 million) in the April to June quarter, compared with 3.47 billion (€465 million) a year earlier and below an average forecast for 3.58 billion (€480 million) in a poll of analysts .
Eastern Europe sales fell slightly in the quarter while revenue in Asia grew by 10 per cent, lagging average forecasts in the poll.
The brewer reiterated its full-year financial guidance for an operating profit of around 10 billion crowns (€1.34 billion) and mid-single-digit percentage growth in adjusted net profit from last year’s 5.50 billion (€737 million).