COPENHAGEN, Denmark (AP) — Denmark's Carlsberg says problems in its core West European market weighed on its financial performance during the second-quarter of the year.
The brewer says operating profit for the three-month period fell 1 percent, 3.4 billion kroner ($617 million), on a modest 2 percent revenue increase to 19.6 billion kroner. The company said Wednesday that a 6 percent decline in second-quarter volume sales in Western Europe was offset by strong growth in Asia.
Western Europe is hugely important to the company. In the second quarter, sales from the region amounted to 10.8 billion kroner, or 55 percent of the total.
Overall, Carlsberg's adjusted net profit fell 1 percent to 2.1 billion kroner compared to the same period last year.