Brewer Carlsberg Upgrades Earnings Expectations For 2019
Danish brewer Carlsberg has said that it is adjusting its 2019 earnings expectations upwards, due to a 'strong financial performance' in the first six months of the year.
It said that during the period, it reported 4.2% organic net revenue growth, 1.4% organic total volume growth and a 'strong operating margin improvement'.
As a result of this performance, the brewer now expects to report high-single-digit percentage growth in organic operating profit for the full year, up on its prior forecast of mid-single-digit percentage growth.
The company is due to release its first-half financial statements next Thursday, 15 August.
Announcing its full-year results for 2018 in February of this year, Carlsberg said that it posted a 'strong set of results', accelerating top-line growth and improving margins in line with its SAIL'22 business plan.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.