• Year-to-date net sales inch up by 1% to DKK48.5bn (US$7.58bn)
  • Third-quarter sales - to end of September - dip 1%  to DKK16.7bn
  • Eastern Europe sees YTD sales down 1%, Western Europe flat, Asia increases 6%

Carlsberg Q3 & YTD 2017 by region - results data

Carlsbergs progress in the first half of this year was slowed by a sticky third quarter

Carlsberg's progress in the first half of this year was slowed by a sticky third quarter

Carlsberg has seen a dip in third-quarter sales slow its growth in the first nine months of 2017.

In a trading update earlier today, the brewer reported a fall in sales by 1% in organic terms. The performance follows August's half-year numbers, in which sales were up by 2%.

Consequently, the top line in the year to date inched up 1% on an organic basis.

In volume terms, the third quarter was down 4% with the nine-month period declining by 3%. 

Looking forward, the group increased its forecast for operating profits growth in 2017, from the previous mid-single-digit level to between 7% and 8%.

"'Funding the Journey' [Carlsberg's cost-savings programme] is progressing very well and we feel confident about delivering benefits of around DKK2bn (US$312.5m)," said CEO Cees 't Hart. "Consequently, we're able to adjust our earnings outlook upwards.

""In the third quarter, our premiumisation efforts continued to deliver a solid price/mix development, while volumes, as expected, were impacted by the PET downsizing in Russia, tough comparables in Eastern Europe and poor weather in Western Europe."

Carlsberg will report its figures for the full 12 months of 2017 on 7 February.

To read Carlsberg's Q£ trading update, click here.

Carlsberg Q3 & YTD 2017 by region - results data