Danish brewer Carlsberg Q1 operating profits fall
Copenhagen - Danish brewer Carlsberg's first-quarter 2008 operating profit dropped slightly despite a 6-per-cent increase in beer sales, the group said Wednesday.
Operating profit for the quarter before special items was 388 million kroner (80 million dollars), compared to 402 million kroner for the corresponding business period 2007.
The group's beverage business generated an operating profit of 381 million kroner.
Turnover increased 6 per cent to 9.4 billion kroner.
"Results for the first quarter normally make only a modest contribution to Carlsberg's earnings," chief executive Jorgen Buhl Rasmussen said in a statement, referring to the seasonal swings in demand for beer.
The group said it also had managed to offset rising raw material prices with price increases and its product blend.
Carlsberg said Russia and other markets in Eastern Europe continued to develop "strongly" and there was also strong growth in Asia, while Western Europe "showed a general slowdown on volume terms."
The Danish brewer has sales in more than 150 markets and sold the equivalent of 95 million bottles of beer a day in 2007.
In January, Carlsberg and Dutch group Heineken made an offer for British brewers Scottish & Newcastle (S&N) aimed at further boosting markets.
The acquisition was completed at the end of April - after the period covered by the first-quarter report. (dpa)