The Danish brewery Carlsberg posted a financial report for the first quarter today without out too many surprises.
The beer producer saw a 2 percent increase in organic turnover growth to 13 billion kroner and has maintained its expectations for the rest of the year, thanks in part to a 20 percent growth in the eastern European market.
“We attained volume growth in Russia, Ukraine and Kazakhstan,” Carlsberg wrote.
“The Russian volume growth is primarily due to favourable comparison grounds, since we took significant steps last year to reduce our warehouse holdings with distributors over the market decline and the continued shift from traditional to modern trade.”
Not smoothe sailing
News from western Europe, meanwhile, is not as bright. The company experienced negative growth of 3 percent here, while stagnation was also endured in Asia.
Volume growth fell in China by 3-4 percent due to the closure of breweries in east China, and Vietnam and the Tết New Years celebration taking place in December 2015 instead of the first quarter of 2016. However, the brewery did enjoy growth in India and Nepal.
In March, Carlsberg chief execuctive Cees ‘t Hart unveiled a new strategy, Sail ’22, which aims to streamline the company’s production portfolio and strengthen its brand.