Danish brewer Carlsberg said adverse currency movements and a lack of sales growth in its Russian markets had dented first half profit.
To June 30 operating profit fell 31% to DKK1.25bn from DKK1.8bn. Sales dropped 7% to DKK16.3bn.
Carlsberg blamed an “overall economic uncertainty” for the unexpected drop in beer consumption.
In the UK, the Carlsberg brand achieved a 5% gain, while Tetley’s “maintained volume” in the decreasing ale market. Operating profit was down due to increased costs for marketing, restructuring and pensions, the company said.
To June 30 operating profit fell 31% to DKK1.25bn from DKK1.8bn. Sales dropped 7% to DKK16.3bn.
Carlsberg blamed an “overall economic uncertainty” for the unexpected drop in beer consumption.
In the UK, the Carlsberg brand achieved a 5% gain, while Tetley’s “maintained volume” in the decreasing ale market. Operating profit was down due to increased costs for marketing, restructuring and pensions, the company said.
No comments yet