Carlsberg First Quarter Sales Beat on Asian Strength -- Earnings Review
02 May 2019 - 7:19PM
Dow Jones News
By Dominic Chopping
Carlsberg A/S (CARL-A.KO) released a first quarter trading
update on Thursday.
REVENUE: The Copenhagen-based brewer reported a 9.3% rise in
first-quarter sales to 13.89 billion Danish kroner ($2.09 billion).
Analysts polled by FactSet had expected revenue of DKK13.54
billion. Carlsberg doesn't disclose any further financial
information in its quarterly trading statements.
WHAT WE WATCHED:
GUIDANCE: Carlsberg backed its guidance for mid-single-digit
percentage organic growth in operating profit for 2019, but said it
now sees a positive currency-translation impact of around DKK150
million this year compared with a previous expectation of around
zero.
BEVERAGE VOLUMES: Total organic volumes grew by 3.4% while its
increased ownership in Cambrew boosted reported volumes by 6.7% to
29.0 million hectoliters. According to FactSet estimates, total
volumes were expected to have edged higher to 28.3 million
hectoliters, from 27.2 million hectoliters in the first quarter of
last year. The company saw particularly strong volume growth in
Asia and continued solid progress of its craft & speciality and
alcohol-free portfolios, which improved the price/mix, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com;
@domchopping @WSJNordics
(END) Dow Jones Newswires
May 02, 2019 05:04 ET (09:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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