Carlsberg sees growth in Asia as other markets decline

COPENHAGEN, Denmark Danish brewer Carlsberg said Thursday its second quarter net profit dropped 7.3% to 2.9 billion kroner ($458 million) as all its markets were affected to a greater or lesser extent by the global coronavirus outbreak.

The Copenhagen-based brewer said it saw “a modest decline in western and eastern Europe, while the solid growth continued in Asia.”

Recognizing that were faced with a new market reality, including changed consumer preferences and a reduced level of on-trade activity, were taking measures to adapt our business accordingly, CEO Cees t Hart said.

To mitigate the impact of weaker volumes and mix, weve reinforced our focus on costs, cash and liquidity, he said.

Carlsberg said its second quarter revenue declined 14.6% and total sales volumes declined 7.8%.

After suspending its outlook for 2020 on April 2 due to the uncertainty caused by the pandemic, the brewer issued a new one, saying operating profit is expected to decline by 10 % to 15%.

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