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Carlsberg raises its forecast for 2010
Carlsberg Group has released its interim results as at 30 June 2010.
The Carlsberg Group achieved 12% operating profit growth to DKK 5.0bn for the first six months of 2010, and driven by increased sales and marketing investments the group gained market share in a large part of the business.
The focus on improving profitability continues and group operating profit margin improved strongly by 210bp to 17.2%.
Beer volumes declined by 2% to 55.8m hl, with an organic volume development of –3%. Excluding the Russian de-stocking effect in Q1, the estimated organic volume development was –1% for the first six months.
Asia continued the very strong growth at double-digit percentage rates. Northern & Western European volumes grew slightly organically. Eastern Europe, excluding Russia, reported double-digit organic growth. Russian volumes declined mainly due to de-stocking in Russia in Q1 and overall market decline following the 200% excise duty increase. Group organic beer volume development was flat in Q2.
Read the full Carlsberg financial release at this link.
Source: Carlsberg Group
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