COPENHAGEN (dpa-AFX) - Danish brewer Carlsberg A/S (CABGY.PK) reported Thursday that its net revenue for the third quarter declined 5 percent from last year.
The company's net revenue for the third quarter decreased to 16.68 billion Danish Kroner from 17.53 billion kroner a year ago.
The decline in revenue was due to the negative impact of minus 3 percent from divestments and a negative currency impact of minus 1 percent.
Organic net revenue declined by 1 percent, due to an organic volume decline of 4 percent. The volume decline was impacted by the PET downsizing in Russia, difficult comparables in Eastern Europe and poor weather in Western Europe.
In reported terms, total volumes for the quarter declined by 6 percent, impacted by disposals of Carlsberg Malawi and Chinese breweries in 2016, and of Nordic Getränke in 2017.
Total beverages volumes in the quarter were 37.5 million hectolitres, compared to 40.0 million hectolitres in the year-ago period.
For fiscal 2017, Carlsberg now projects operating profit growth of 7 percent to 8 percent, compared to the previous outlook for mid-single-digit percentage growth. The company continues to expect financial leverage reduction.
The company now projects full-year positive translation impact of around 75 million Danish Kroner, up from the previous forecast of around 50 million Kroner for the year.
Copyright RTT News/dpa-AFX