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Carlsberg expects profits to narrow this year after losing its licence to produce San Miguel in the UK.
The Danish brewer said it expects organic operating profit growth of between 1% and 5% for 2025, down from 6% in 2024.
Carlsberg grew full-year revenue 1.9% to 75bn Danish kroner (£8.4bn) just ahead of forecasts, although its volume growth missed analysts’ expectations.
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Morning update
Pernod Ricard has cut its sales outlook for the year, blaming China’s tariffs on brandy imports from the EU for subduing demand.
Pernod’s sales fell 6% to €6.2bn in the first half of its financial year as China and the US proved particularly challenging.
The company will launch a plan to cut €1bn in costs between 2026 and 2029.
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Catering giant Compass Group grew organic revenue 9.2% in the first quarter as all its major regions delivered strong growth.
Its momentum was driven by “positive outsourcing trends” with sales in the US leading the way – up 9.7% in the first quarter to 31 December.
European sales rose 8.4%, while the rest of the world now accounts for about 5% of group revenue and will be incorporated into Europe to form a new international region.
The company spent about $1bn in acquiring Dupont Restauration in France and 4Service in Norway last year, while selling off operations in Chile and Kazakhstan.
Compass reiterated its guidance for the year with organic revenue growth expected to exceed 7.5% and high single-digit operating profit growth.
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