Carlsberg: third-quarter organic growth beats consensus
(CercleFinance.com) - Danish brewer Carlsberg posted higher-than-expected third-quarter organic growth on Thursday, benefiting from very good weather conditions in Western Europe over the summer months.
The world's fourth-biggest brewer reported net revenue of 17.6 billion Danish kronor for the July-September quarter, up from 16.4 billion Danish kronor a year ago, representing an increase of about 7%.
Carlsberg delivered a strong beat with organic sales growth of 9% over the quarter, while the consensus was expecting just 5.5%, some analysts pointed out.
CEO Cees't Hart said that all regions performed "very well" over the quarter.
"Our craft & speciality portfolio and alcohol-free brews continued their good momentum, and in Asia Tuborg, Carlsberg and 1664 Blanc delivered strong growth rates," he added.
At 11 am this morning, Carlsberg "B" shares were up 0.8% at 732.8 kronor, underperforming the Copenhagen Bourse's OMX 25 index, which was up 2%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The world's fourth-biggest brewer reported net revenue of 17.6 billion Danish kronor for the July-September quarter, up from 16.4 billion Danish kronor a year ago, representing an increase of about 7%.
Carlsberg delivered a strong beat with organic sales growth of 9% over the quarter, while the consensus was expecting just 5.5%, some analysts pointed out.
CEO Cees't Hart said that all regions performed "very well" over the quarter.
"Our craft & speciality portfolio and alcohol-free brews continued their good momentum, and in Asia Tuborg, Carlsberg and 1664 Blanc delivered strong growth rates," he added.
At 11 am this morning, Carlsberg "B" shares were up 0.8% at 732.8 kronor, underperforming the Copenhagen Bourse's OMX 25 index, which was up 2%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.