Danish brewer Carlsberg has reported higher-than-expected operating profit, boosted by growth in Eastern Europe and raised its outlook for the year.
The world's fifth-biggest brewer reported first-half earnings before interest and taxes of 2.26 billion Danish crowns ($418.9m), up 31% from last year and ahead of forecasts.
Sales rose 12% to 21.5 billion crowns, slighlty higher than expectations, lifted by strong sales in Baltic Beverages Holding (BBH), Carlsberg's Eastern European joint venture with Britain's Scottish & Newcastle.
Carlsberg raised its expectations for the year, forecasting sales growth of at least 10% from the previous 7%.
Total beer sales rose 17% for the first half of the year, Carlsberg said.
Higher sales in Russia and other BBH countries were fuelled by warm weather and a change in consumption patterns away from wine and spirits, Carlsberg said.
In Asia, beer sales rose 29% by volume, with China and Vietnam leading the way.
