CABGY Carlsburg AS (PK)

By Dominic Chopping

Carlsberg A/S (CARL-A.KO) released a first quarter trading update on Thursday.

REVENUE: The Copenhagen-based brewer reported a 9.3% rise in first-quarter sales to 13.89 billion Danish kroner ($2.09 billion). Analysts polled by FactSet had expected revenue of DKK13.54 billion. Carlsberg doesn't disclose any further financial information in its quarterly trading statements.

WHAT WE WATCHED:

GUIDANCE: Carlsberg backed its guidance for mid-single-digit percentage organic growth in operating profit for 2019, but said it now sees a positive currency-translation impact of around DKK150 million this year compared with a previous expectation of around zero.

BEVERAGE VOLUMES: Total organic volumes grew by 3.4% while its increased ownership in Cambrew boosted reported volumes by 6.7% to 29.0 million hectoliters. According to FactSet estimates, total volumes were expected to have edged higher to 28.3 million hectoliters, from 27.2 million hectoliters in the first quarter of last year. The company saw particularly strong volume growth in Asia and continued solid progress of its craft & speciality and alcohol-free portfolios, which improved the price/mix, it said.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

(END) Dow Jones Newswires

May 02, 2019 05:04 ET (09:04 GMT)

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