Carlsberg: says performance is improving

(CercleFinance.com) - Carlberg's second-quarter volumes and revenues were much lower than a year ago, but the gradual reopening of economies means its performance is now improving, the Danish brewer announced on Friday.


Based on preliminary figures, Carlsberg's second-quarter revenue fell by 14.6% in organic terms.

The drop came as total volumes fell by 7.8% organically in the past quarter from a year earlier, the Copenhagen-based group said.

The company said in a trading update that it expects an organic decline in operating profit of 8.9% for the first half of the year.

While the Western European region had a "very difficult start" to the second quarter, Carlsberg said it saw improved performance towards the end of the period, due to the gradual reopening of the on-trade channel and subsequent restocking in many markets, along with good weather in June.

Citing a "volatile and uncertain" sales development for the coming months, the company still refuses to provide guidance for full-year 2020.

The shares were up over 5% after these announcements.

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