Carlsberg’s quarterly profits rose by 70%

Carlsberg, the Danish beer producer, was founded in 1847 by J.C. Jacobson and was named after his son, Carl. The company’s main brands are Carlsberg Beer and Tuborg, one of the most renown beers in the world. Its headquarters are in Copenhagen, Denmark. In 2009, the company became the world’s 4th largest brewing company, employing over 45.000 people.

The group’s net profit in the first half of this year rose by 70% over the same period of last year, to 3.4 billion Danish kroner (456 million), due to good performance on the Russian market. Net profit attributable to shareholders of the company recorded a similar increase, from 1.72 billion kroner from 3.1 billion kroner (416 million euros), according to a report presented by Carlsberg. Operating profit also rose 12.1% to 4.98 billion kroner (668 million euros).
Although Russian authorities have tripled earlier this year excise duty on spirits to combat alcoholism, Carlsberg has an optimistic attitude about this market.

According to the company, the Russian beer market fell by 9% in the first six months, but Carlsberg’s market share climbed to 40.1% worldwide. The group has also improved its sales forecast for the Russian market this year due to improving economic conditions and consumer confidence.

Carlsberg sales volume worldwide in the first half increased 5% to 66.1 million hectoliters of beer and group net income fell slightly, from 29.4 billion Danish kroner to 28.9 billion crowns (3, 8 billion euros).