Carlsberg has posted first-quarter organic volume growth of 2.0%, slightly above expectations. This was driven by its premium beers, such as Tuborg and Grimbergen, which grew 8% in the period to 31 March.
Volume growth in Western Europe was subdued at 0.2% but grew 3.1% in Asia and 2.2% in Central & Eastern Europe and India.
Carlsberg noted that it grew its market share in China and increased volumes by 5%, but said the overall beer market in the country was flat as consumer spending remained weak.
In Europe, growth in Denmark, Sweden, Finland, the UK and Poland was offset by lower volumes in France, Switzerland and Norway.
Group CEO Jacob Aarup-Andersen commented: “We’ve had a solid start to the year with volume and revenue growth in all three regions. We’re particularly satisfied with the growth of our premium portfolio and the volume and revenue growth in Asia, both of which are important strategic growth drivers for the Group.
“Q1 performance was in line with expectations, and we maintain our full-year earnings outlook.”
The company expects organic operating profit growth this year to be between 1% and 5%.
