Carlsberg A/S, the Danish brewer of Tuborg and Baltika, reported second-quarter profit that beat analysts' estimates and raised its earnings outlook for the full year.
Net income in the three months through June fell 18 percent to 1.04 billion Danish kroner ($192 million) from 1.27 billion kroner in the same period a year earlier. That beat the 949 million-kroner median estimate of nine analysts polled by RB- Boersen.
The brewer said it expects sales for the year to rise at least 10 percent, up from the previous target of 7 percent. Carlsberg is looking to eastern Europe and Asia for growth as demand stagnates in northern Europe, which had a rainier spring than usual. The company jointly owns Baltic Beverages Holdings AB, which controls Russia's biggest brewer, with Scottish & Newcastle Plc.
source:bloomberg.com
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