Carlsberg UK posts 'low double digit' increase in volumes in H1

By Elaine Watson

- Last updated on GMT

Volumes at Carlsberg UK increased in the low double-digits in the first half of the year.

The brewer, which unveiled a 12% increase in operating profit to 5bn Danish kronor (£551.6m) but an overall 2% decline in beer volumes in the first six months of the year, said its UK business had “continued to improve”​ with market share gains in the on and the off trade.

Particularly strong market share gains were also achieved in Poland, South-East Europe and Norway, added the firm, which makes brands including Carlsberg, Tetley's Tuborg and Holsten.

“Most markets delivered organic operating profit growth with particularly strong contribution from the UK, Poland, France, Switzerland and Portugal. Operating margin improved in all markets with the exception of the Baltic countries that continue to suffer.”

The worst performer was Russia, in which the beer market declined by 9% over the period due to de-stocking and hikes in excise duty. However, thanks to "slightly better consumer sentiment​" in Russia, Carlsberg is now predicting a high single-digit decline in Russia for the whole of 2010, compared with its earlier forecast of a low double-digit decline.

Chief executive Jørgen Buhl Rasmussen, said: “The Group's performance was strong for the first six months in spite of challenging consumer dynamics.

"We achieved higher margins in all three regions for the first six months showing that we are clearly on-track to meet our medium-term margin targets.”

Related topics: Drinks

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