Danish brewer Carlsberg on Thursday reported a 9 percent jump in first-quarter s...
FILE PHOTO: A logo of Carlsberg beer is seen on the entrance of a pub in Brussels, Belgium March 10, 2016. REUTERS/Yves Herman/File Photo
Positive currency movements and an acquisition in Cambodia also helped the world’s third-largest brewer, behind Anheuser Busch InBev and Heineken, grow Asian sales by 28 percent year-on-year in the first quarter ended March, it said. Carlsberg has taken major cost-cutting measures since Hart took over in 2015, intended to help redress a decade of weakness in its key market Russia. Last year, it returned to sales growth for the first time in three years.
The brewer lost market share in Russia, where it owns the Baltika brand, as it increased prices at the end of last year and in the first three months of 2019 in an effort to increase profitability.
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