Carlsberg A/S, Denmark’s largest brewery, posted a 20% increase in its net profit in the third quarter, coming in at DKK586m (US$89.9m) against DKK489m year-on-year. Operating profit is up 22% at unchanged exchange rates (+15% at actual exchange rates) up to DKK1,671m. Sales grew by 5% to DKK9.86 billion as beer and soft drinks volume rose 4% on the year.

In Western Europe, Carlsberg's biggest market, third quarter operating margin climbed to 13.2% against 12.5%. In Eastern Europe it went up to 25.6% from 21.2%. Earnings before interest, taxation and amortization (EBITA) was up by 15%.

The brewing company maintained its 2003 outlook, forecasting Carlsberg Breweries' share of profit for the year to increase by about 15%, while Carlsberg A/S' share of profit for the year is expected to decrease by approximately 10%.

Carlsberg A/S owns 60% of Carlsberg breweries. The remaining 40% is held by Norway’s Orkla Group. Carlsberg also jointly owns Baltic Beverage Holdings, with Scottish & Newcastle.

07 November, 2003