carlsberg profit slumps on russian alcoholism curb
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Carlsberg profit slumps on Russian alcoholism curb

Arab Today, arab today

Arab Today, arab today Carlsberg profit slumps on Russian alcoholism curb

Copenhagen - AFP

Bad weather and a drive by Russia to curb sales of beer to fight alcoholism cut quarterly profit at Carlsberg by 38 percent, the Danish brewer said on Wednesday, disappointing analysts. Net profit in the second quarter fell to 2.074 billion kroner (278 million euros, $372 million) from 3.355 billion kroner 12 months ago. In the same period last year, results were boosted by the sale of the company's Copenhagen brewery site. But the latest figures fell short of the 2.15-billion-kroner expectation by analysts polled by Dow Jones Newswires. "The ongoing challenging market conditions underpin the importance of our continued efforts to make our business more efficient," Joergen Buhl Rasmussen said in a statement. Carlsberg has sought to grow sales by expanding outside western markets -- where sales have stalled -- into eastern Europe, and bought the remaining minority stake in Russia's Baltika Breweries last year. But sales there have been hit by government efforts to battle the country's drink problem, which have included a ban on sales in kiosks and on late night sales, as well as marketing restrictions. "It has taken longer than anticipated for consumers to adapt to the changed retail landscape caused by the closure of non-permanent outlets," Buhl Rasmussen said. Slowing economic growth in Russia and a drop in consumer sentiment were also weighing on sales, he added. Sales were also hurt by poor weather in some of the group's key markets towards the end of the quarter. The northern hemisphere was hit by a long hard winter this year which ate into the strong spring and summer period for the sale of beer. Net revenue rose 1.6 percent to 19.64 billion kroner, which was in line with expectations. Carlsberg said it still expected to post a full-year operating profit of about 10 billion kroner and for adjusted net profit to increase by "a mid-single-digit percentage."  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

carlsberg profit slumps on russian alcoholism curb carlsberg profit slumps on russian alcoholism curb

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

carlsberg profit slumps on russian alcoholism curb carlsberg profit slumps on russian alcoholism curb

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday