Carlsberg: first-quarter beer volume down

(CercleFinance.com) - Danish brewer Carlsberg said on Thursday that its organic volume fell by 7.
6% in the first quarter, as volume in Asia and Western Europe fell by 15.5% and 6% respectively due the outbreak of the coronavirus.

Organic revenue fell 7.4% over the first three months of 2020, with Asia down 12.4% and Western Europe down 6.9%, the Copenhagen-based company said.

Earlier this month, Carlsberg suspended its outlook for 2020, due to the uncertainty about the impact that the pandemic will have.

To mitigate the impact of weaker volumes, the world's second-largest brewer plans to reinforce its cost focus and maintain a "strict" focus on cash and liquidity.

However, it warned that volumes will decline further in the second quarter.

Carlsberg's shares were trading 0.3% higher in early morning trading. In comparison, the STOXX Europe 600 Food & Beverage index was flat.

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