Profits at Danish brewer Carlsberg received a boost in the fourth quarter thanks to a 14.8% revenue increase from its Asian market.
The world's fourth biggest brewing company saw operating profit rise 8% in Q4, while earnings before interest and taxes rose to €311 million from €299 million a year earlier.
Revenue decreased €2.12 billion to €2.1 billion, but it still outperformed forecasts.
The company now forecasts further profit in the year ahead after strength in Western Europe and Asia offset a poor performance in Russia to drive earnings higher than analysts expectations in Q4.
Chief executive Jorgen Buhl Rasmussen commented: "We will focus on further strengthening our Russian business; develop our Asian business to capture the growth potential of the region; and change our Western Europe business model and organisation, including the continued roll-out of BSP1 [a "business standardisation project" to slim down some operations].
Last year, Carlsberg began construction of two new breweries in Asia - one in China and the other in Myanmar.
© 2014 - European Supermarket Magazine by Enda Dowling
