Carlsberg: organic growth slows in third quarter
(CercleFinance.com) - Carlsberg said it delivered "solid" revenue growth for the third quarter, despite tough comparables from last year, particularly helped by the "very good performance" of the Asia region.
The Danish brewer said that organic revenue growth reached 3.1% in the past quarter, although this was slightly under its organic growth over the first 9 months of the year (+3.8%).
The group also reported net revenue growth of 5.3% to 18.5 billion Danish kronor (just under 2.5 billion euros).
Earlier this week, Carlsberg raised its 2019 earnings expectations, citing "solid" earnings performance in Western Europe and China, which more than offset the weakness of its business in Russia.
The Copenhagen-based group said that it now expects organic growth in operating profit of around 10% this year, compared to a previous guidance of high-single-digit percentage growth.
However, the market seemed pretty indifferent to these announcements on Thursday, with the shares down 1.8% at 948.6 Danish kronor after this trading update.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Danish brewer said that organic revenue growth reached 3.1% in the past quarter, although this was slightly under its organic growth over the first 9 months of the year (+3.8%).
The group also reported net revenue growth of 5.3% to 18.5 billion Danish kronor (just under 2.5 billion euros).
Earlier this week, Carlsberg raised its 2019 earnings expectations, citing "solid" earnings performance in Western Europe and China, which more than offset the weakness of its business in Russia.
The Copenhagen-based group said that it now expects organic growth in operating profit of around 10% this year, compared to a previous guidance of high-single-digit percentage growth.
However, the market seemed pretty indifferent to these announcements on Thursday, with the shares down 1.8% at 948.6 Danish kronor after this trading update.
Copyright (c) 2019 CercleFinance.com. All rights reserved.