Danish brewer Carlsberg Q2 operating profits increase
Copenhagen - Increased sales of beer and soft drinks helped improve Danish brewer Carlsberg's second-quarter 2008 operating profit, the group said Tuesday.
The quarter's operating profit before special items was 3.15 billion kroner (658 million dollars), compared to 1.8 billion kroner for the corresponding business period in 2007.
Turnover in the quarter was 17.54 billion kroner, compared to 12.63 billion kroner in the second quarter 2007.
The group's share price increased 7 per cent in early morning trading on the report.
During the six-month period January to June, Carlsberg's beer sales increased 24 per cent of which 6 per cent were in existing markets, while acquisitions accounted for 18 per cent of the growth.
Sales of soft drinks and other beverages increased 8 per cent for the six-month period 2008 compared to the corresponding 2007 period.
Markets that performed well were Russia and other markets in Eastern Europe and Asia while Northern and Western Europe were "stable."
Beer buyers in Russia also bought more expensive brands, the group said.
Carlsberg said rising raw material prices were compensated by price increases.
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 its outlook for full-year 2008, the group repeated its estimate of some 10 per cent organic growth in net revenue. (dpa)