Carlsberg made headlines for all the wrong reasons last week. The brewer's decision to halve full-year profits guidance saw its share price plumbing new depths. It would appear that Carlsberg is getting nobbled for putting as much focus on one market as it has done in Russia, a market that has changed immeasurably in a very short time.

With Carlsberg's Asia business really still in its infancy, the next two years or so are going to be a tough ride.

The theme of reducing one's exposure to troublesome markets is likely to be continued this week, by Diageo. The Smirnoff producer will unveil full-year results on Thursday (25 August) and is expected to update on its efforts to restructure in sluggish European markets. That said, North America's improving spirits market, and emerging markets in Asia, Africa and Latin America, should add some shine to Diageo's results.

just-drinks' deputy editor, Chris Mercer, is scheduled for a chat with Diageo's CEO, Paul Walsh, on results day. So, let us know if you have any questions for him by emailing news@just-drinks.com.

In the meantime, we've got Foster's Group's results to chew on tomorrow (23 August). It's all hotting up between Foster's and SABMiller, which last week went hostile in pursuit of the Australian brewer. Will the Peroni brewer succeed in opening cracks in the Foster's ranks? We'll bring you everything you need to know, as it happens.

Elsewhere in the news last week, Smirnoff was named the top international spirits brand by IWSR. In soft drinks, The Coca-Cola Co announced a plan to pour US$4bn into China over the next four years. The move signals the importance of China to Coca-Cola's long-term operations.

Isn't August supposed to be a quiet month?

Until next time...

Olly Wehring
Managing Editor
Web: http://www.just-drinks.com
Email: editor@just-drinks.com
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