Carlsberg Raises 2020 Outlook
Danish brewer Carlsberg has raised its full-year earnings expectations after positive momentum last month, buoyed by solid sales in Eastern Europe and an improved outlook in China.
Anticipating A "High Single-Digit Percentage" Fall In Organic Operating Profit
Carlsberg now expects a "high single-digit percentage" fall in organic operating profit versus its previous expectation of a 10%-15% decline.
Carlsberg said that the new outlook reflects "better than expected August results, continued solid volume development in Eastern Europe and an improved outlook in western China after the recent relaxation of second-wave COVID-19 restrictions."