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Markets News

Carlsberg lifts full-year profit guidance on strong sales in China and Russia

COPENHAGEN, Oct 27 (Reuters) - Danish brewer Carlsberg on Tuesday posted third-quarter organic sales above expectations and raised its full-year earnings guidance thanks to strong sales in Russia and China.

The world’s third-biggest brewer reported sales between July and September at 17.3 billion Danish crowns ($2.75 billion), compared with the 16.9 billion crowns expected by analysts in a poll compiled by Carlsberg.

The company now expects 2020 organic operating profit to decline by a mid-single-digit percentage, compared with previous guidance of a high-single-digit decline. ($1 = 6.2952 Danish crowns)

Reporting by Nikolaj Skydsgaard and Jacob Gronholt-Pedersen Editing by David Goodman

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