The Carlsberg Group has adjusted its 2019 earnings expectations upwards due to solid earnings performance in Western Europe and China. Both markets together more than offset the weakness in Russia. The company reported an organic growth in operating profit of around 10% which was previously set at a high-single-digit percentage growth.
“We are very pleased to be able to deliver a second upgrade this year due to solid earnings performance in Western Europe and China,” Carlsberg’s chief executive Cees ‘T Hart was quoted by Reuters. In August, for the presentation of the figures of the second quarter t’Hart already raised its profit outlook for 2019 (inside.beer, 8.8.2019)
This contrasts with profit warnings by the other two large international brewing groups AB InBev (inside.beer, 25.10.2019) and Heineken (inside.beer, 23.10.2019) earlier last week.
Further details to the quarterly results will be provided in connection with the Q3 2019 trading statement, which will be published on 31 October.
