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Carlsberg Posts 25 Percent Jump In Profits

Danish brewer posted Wednesday a 25 percent hike in third-quarter profit, citing cost-cutting strategies and strong returns in Eastern European and Asian markets.

COPENHAGEN (AP) -- Danish brewer Carlsberg A/S posted Wednesday a 25 percent hike in third-quarter profit, citing successful cost-cutting strategies and strong returns in Eastern European and Asian markets.

The beer producer said net profit rose to 1.5 billion kroner ($297 million) in the July through September period from 1.2 billion kroner in 2008.

Revenue, meanwhile, dipped to 16.4 billion kroner ($3.2 billion) from 18.4 billion kroner year-on-year.

The group said that gains from new product lines were particularly strong in the Ukraine and Russia, though those gains did not offset stagnant sales in other European markets.

Carlsberg's chief executive, Jorgen Buhl Rasmussen, said he was "pleased" with the result, saying "efficiency improvements" had offset the effects of "challenging markets."

The company will continue to focus on "growing volume and value market share, improving efficiencies and reducing debt" in "an equally challenging 2010," he said.

Carlsberg shares closed down 5.3 percent, at 341.3 kroner ($67.70), on the Copenhagen Stock Exchange.

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