Carlsberg profits boosted in 2018 by World Cup, warm summer
Revenue increased 3 percent to 62.5 billion kroner and CEO Cees 't Hart said the Copenhagen-based group had "delivered a strong set of results for 2018." Carlsberg didn't publish net income figures for the fourth quarter of 2018. It said its operating profit outlook for 2019 was "mid-single-digit percentage organic growth."
The brewer noted an increase in revenue in Asia and eastern Europe. In India, volumes grew by 19 percent, China delivered "very strong results" with growth of 15 percent while its key Russian beer market last year grew for the first time since 2007, Carlsberg said. Revenue in Russia grew about 3 percent, supported by the weather and the World Cup.
Hart added they will recommend "a 13 percent increase in dividend to 18 kroner per share and initiate a share buy-back program of 4.5 billion kroner ($688 million), leading to cash returns to shareholders for the year of 7.2 billion kroner ($1.1 billion)." Carlsberg shares rose nearly 4 percent in Copenhagen to 780.8 kroner.(dpa)
Most read news
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.