Danish brewer Carlsberg said a drive to focus on its top brands and major supermarket customers had revived sales in its key Russian beer market in the teeth of tougher regulations and rising taxes.
Like other big brewers, Carlsberg is relying on emerging markets and price rises to offset sluggish demand in western Europe and stiff competition in mature markets.
But its leading position in Russia has been hampered by a government drive aimed at curbing alcohol abuse.
Group operating profit rose almost 10 per cent to 3.6 billion kroner in the quarter. Sales grew to 18.8 billion kroner against a forecast 18.6 billion kroner.
Carlsberg kept its 2012 outlook for operating profit before one-off items to be at the same level as in 2011 when it reached 9.82 billion crowns. – (Reuters)
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