November 1, 2018 / 6:36 AM / 14 days ago

Carlsberg third-quarter sales beat forecast, confirms lifted 2018 outlook

FILE PHOTO: Carlsberg beer cans are seen at a pub in Mumbai, India, October 20, 2018. REUTERS/Danish Siddiqui

COPENHAGEN (Reuters) - Danish brewer Carlsberg (CARLb.CO) on Thursday posted stronger-than-expected third-quarter sales and confirmed its recently lifted operating profit growth outlook for this year of 10-11 percent.

Carlsberg’s third-quarter net revenue came in at 17.6 billion DKK (£2.1 billion), above the 17.2 billion expected by analysts in a Reuters poll.

The company said its price mix, which indicates if the company sold more of its expensive beers, was positive in most markets.

Lower volumes in the Middle East along with higher license sales impacted its price mix negatively, the company said.

Total volumes came in at 38.6 million hectolitres, above analyst expectations of 37.5 million, due to “very good weather” in Western Europe.

“Results in the quarter were further boosted by the very good weather in Western Europe,” Chief Executive Cees ‘t Hart said in a statement.

Reporting by Emil Gjerding Nielson; Editing by Jacob Gronholt-Pedersen and Sunil Nair

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