Carlsberg has reported a pre-tax profit increase for the year to date as its key Russian business showed growth. The Danish brewer saw an increase of 8 per cent in third quarter revenues to DKK 18,810 million, while pre-tax profits slipped to DKK 3,148 million from DKK 3,931 million for the same period in 2011. Operating profits in the quarter showed a 10 per cent spike, reaching DKK 3,596 million.
The world's fourth-largest brewer said its share of the Russian beer market, rose to 38.9 per cent from 37.9 percent in the second quarter. Beers sales in the region rose 2-3 per cent with the Baltika, Tuborg and Zatecky Gus brands the strong performers.
Reported beer volumes increased 2 per cent across the group in the period. In Western Europe total market declined by an estimated 2-3 per cent for the year to date, the group said. The Polish market, which grew by 6 per cent with a 15 per cent increase in volumes, is excluded from this.
In the nine months to date net revenue grew by 5 per cent to DKK 51,269 milllion. Pre-tax profits for the period increased to DKK 7,712 million from DKK 7,260 million, while operating profits shrank 4 per cent.
CEO Jørgen Buhl Rasmussen said the group is "on track" to meet its full-year outlook of matching 2011's operating profit, with an increase in adjusted net profit.
He added, "It is particularly positive to report that we are back on a growth trend in Russia where in Q3 we grew market share quarter-on-quarter and year-on-year. While we will remain focused on driving our commercial agenda, becoming more efficient remains a top priority for the Group and we still see significant long-term opportunities in this area, with particular focus on Western Europe.” (8 Nov)
© 2012 - ESM: European Supermarket Magazine
