Carlsberg on target with interim results

Profit up despite challenges in Russia and China

Despite being under pressure in the Russian and Chinese markets, the Danish brewery giant Carlsberg has managed to produce decent interim financial results.

It has reported net revenue of 31.2 billion kroner, slightly down from the 32.4 billion in the same period in 2015, but the company saw organic growth of 4 percent.

“The Carlsberg Group delivered a good set of results in line with our expectations. Most notably, we achieved a solid top-line and profit development as well as a strong improvement in cash flow,” said Carlsberg chief executive Cees ‘t Hart.

“With the satisfactory execution of our plans so far, we maintain our full-year outlook for organic growth in operating profit.”

READ MORE: Carlsberg making inroads in eastern Europe

Profit up
Carlsberg also saw its market share decline in western Europe, but its market share in eastern Europe improved sequentially, while it remained stable in Asia overall.

The company’s profit increased from about 1.8 billion kroner during the first half of 2015 to over 2.1 billion kroner this interim.