Carlsberg Q3 2014 profit did not changed

Noam Stiekema

The Carlsberg Q3 2014 profit did not changed compared to the result an year earlier, after increasing demand in Asia offset the challenges facing Russia – the largest market for the Danish brewer. The quarterly operating profit of the company reached 3.39 billion DKK (569 million USD) from 3.392 billion DKK an year earlier at […]

Carlsberg

CarlsbergThe Carlsberg Q3 2014 profit did not changed compared to the result an year earlier, after increasing demand in Asia offset the challenges facing Russia – the largest market for the Danish brewer. The quarterly operating profit of the company reached 3.39 billion DKK (569 million USD) from 3.392 billion DKK an year earlier at 4% increase in sales. Although demand in Russia fell by 15%, the revenues in Asia grew by 61%, due to sales of premium beer.

“The group managed to achieve growth of private profits and increase cash flow, regardless of market challenges in Eastern Europe”, said CEO Jorgen Buhl Rasmussen.

However, analysts say investors will keep their attention on the position of Carlsberg in Russia, where the ruble fell by nearly 8% over the past week. The possibility of further tension between Moscow and the West about the situation in eastern Ukraine further pushed the currency and affect growth in Russia. Among the brands of Carlsberg is Baltica, which is the most popular beer in Russia and the former Soviet Union.

The capitalization of the Danish company dropped by more than 16% this year due to the escalation of the conflict between Russia and Ukraine. During the session of the Copenhagen Stock Exchange on Monday, shares rose with 4.66%.

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