Rebound in Chinese beer sales helped Carlsberg beat analyst expectations

A rebound in Chinese beer sales has helped Danish beermaker Carlsberg to beat analyst expectations while the Northern European market was marked by lockdowns, the company said in a recent statement.

According to Reuters, Carlsberg said that the sale in China has increased by more than 50 percent in the first quarter compared with the same period last year and by 20 percent from the same period in 2019.

During a conference call, Carlsberg’s Chief Executive Cees ‘t Hart said that sales in the more profitable markets of western Europe have declined by 6 percent although the company had a “relatively good start to April” and saw “good progress” in Britain, where pubs reopened this month.

Carlsberg’s total sales in the first quarter of 2021 stood at DKK 13.0 billion ($2.11 billion), compared with DKK 12.8 billion estimated by analysts in a poll gathered by the company.

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