COPENHAGEN (dpa-AFX) - Denmark-based beverages business Carlsberg A/S (CABGY) on Thursday said that the first quarter of the year showed a strong improvement in revenue per hectolitre, covering the significant increase in its cost base.
Organic volume growth recorded 2.1 percent amidst a 4.9 percent growth in Asia.
Organic revenue growth was 14.2 percent with strong growth in all three regions, particularly in Central & Eastern Europe.
Revenue grew more than 8% to DKK 16.4 billion.
The company also announced a quarterly share buyback programme, amounting to DKK 1.0 billion to be launched on Thursday.
The company also narrowed its earnings guidance range for 2023. Organic growth in operating profit is seen between -2% to +5% versus -5% to +5% previously.
Shares of Carlsberg were last traded at $32.63, down $0.28 or 0.87 percent from the previous close.
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