Carlsberg raises outlook on strong sales in China and Russia

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Danish brewer Carlsberg posted third-quarter underlying sales that beat expectations on Tuesday and raised its full-year earnings guidance thanks to strong sales in Russia and China.

FILE PHOTO: Bottles of Carlsberg beer are seen in a bar in St. Petersburg June 17, 2014. REUTERS/Alexander Demianchukposted third-quarter underlying sales that beat expectations on Tuesday and raised its full-year earnings guidance thanks to strong sales in Russia and China.

The upgrade was due to a strong performance in the third quarter, continued positive volume trends in Russia and China at the beginning of the fourth quarter, and the effects of planned cost reductions, Carlsberg said in a statement. Still, as a result of new coronavirus restrictions following a recent spike in infections, sales at restaurants and bars “face an increasing level of pressure in the coming quarters”, Carlsberg said.

 

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