Carlsberg profit rises on market share

Wed, Aug 5, 2009, 01:00

Danish brewer Carlsberg reported a forecast-beating rise in operating profits for the second quarter today and said its Russian, east European and Asian businesses gained market share.

Earnings before interest and tax (EBIT) rose to nearly 3.66 billion Danish crowns (€491 million) in April-June from 3.15 billion (€423 million) in the same quarter last year.

The result beat all estimates of from 2.71 billion to 3.53 billion crowns in a Reuters poll of analysts whose average forecast had been for a 0.4 per cent rise to 3.16 billion crowns.

Carlsberg trimmed its guidance for full-year 2009 net revenue to around 61 billion crowns from an earlier forecast of around 63 billion but it kept its operating profit forecast of at least 9 billion crowns.

"Carlsberg gained market share in most markets in Asia and eastern Europe, with particularly strong gains in Russia, and held overall market share in northern and western Europe," Carlsberg said in a statement.