Carlsberg: beer sales exceed expectation in Q3

(CercleFinance.com) - Last night Carlsberg reported sales that exceeded expectations in Q3, with drinkers rushing to the bar for last orders.
As a result, the Danish brewer has raised its FY earnings estimates.

In organic terms, its sales grew by 2.4% over the past three months, countering analysts' estimate of a fall of around 1%.

Company CEO Cees' t Hart, said that he was "satisfied" with the group's performance and its ability to exceed 2% organic growth.

Analysts said that this trading update confirmed the resistance of Carlsberg's business model and the benefits of agile management aimed at limiting the impact of Covid-19.

Regarding the full year, Carlsberg now says that it expects the organic decline in operating profit to be limited to around 5%, against a previous forecast of nearly 10%.

Investors cheered the news, with the stock up around 2% towards midday on Wednesday.


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