Carlsberg Releases 'Solid' First Quarter Trading Statement
Danish brewer Carlsberg has posted organic net revenue growth of 4% and reported growth of 5% to DKK 13.7 billion (€1.84 billion) in its Q1 trading statement for 2017.
The brewer's international premium brands also reported growth with Tuborg rising by 1%; Carlsberg by 8%; and Grimbergen by 25%.
The company reported total volumes were flat organically.
The brewer predicts its 2017 earnings expectations will be maintained.
“With 4% organic net revenue growth, we delivered a solid start to 2017, in the seasonally small first quarter. The execution of Funding the Journey is progressing well and we’re on track to deliver on our 2017 commitments. We’re maintaining our full-year outlook,” explained CEO Cees ’t Hart.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Gavin Ryan. Click subscribe to sign up to ESM: The European Supermarket Magazine.