Carlsberg Q1 sales up 27%; full-year guidance unchanged

div classBodysc17zpet90 cdBBJodivpCOPENHAGEN Reuters – Danish brewer Carlsberg on Thursday reported firstquarter sales excluding Russia up 27 year on year, as postpandemic consumers began drinking more expensive beer and limited impact from the war in Ukraine.p

p“The group had a strong start to the year, albeit Western Europe had easy comparables due to the extensive lockdowns last year,” CEO Cees t Hart said in a statement.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“Looking at business performance, the first quarter saw only limited impact from the war,” he added.p

pCarlsberg along with rivals AnheuserBusch InBev and Heineken have joined an exodus of Western companies from Russia amid pressure on Moscow to end its invasion in Ukraine.p

pThe sale process of its Russian business, which last year generated 10 of its total revenue, could take up to 12 months, Carlsberg said.p

p“We will ensure an orderly divestiture process, Hart said, adding that operations in Russia will continue for now ”to sustain the livelihood of the 8,400 Russian employees and their families.p

pThe worlds thirdbiggest brewer said sales in the quarter reached 14.9 billion Danish crowns 2.10 billion, compared with 11.8 billion crowns a year earlier. The numbers did not include sales in Russia, where it has decided to divest its business.p

pCarlsberg left its fullyear guidance for operating profit remained unchanged with a forecast at between minus 5 and plus 2.p

p1 7.0788 Danish crownsp

p

pp Reporting by Jacob GronholtPedersen Editing by David Goodmanp

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