Denmark: Carlsberg posts lower profit

DANISH brewer Carlsberg’s third-quarter net profit dipped to 2.1 billion kroner (R3.9bn), it said yesterday, citing falling beer sales in Russia and eastern Europe amid challenging market conditions. The new figures compared to 2.2bn kroner of profit in the corresponding business period last year. Sales in the quarter grew to 18.1bn kroner, compared to 17.4bn kroner last year. Weaker currencies in Russia, Ukraine, Belarus and Norway also weighed on results. Carlsberg estimated that the Ukrainian beer market declined by about 10 percent in the quarter. However, the company noted regional differences, citing a greater fall in the restive eastern regions of Ukraine than elsewhere in the country. In Russia, the beer market fell by about 6 percent. Sales increased in Asia and were flat in western Europe during the quarter. – Sapa-dpa