Azernews.Az

By Bloomberg

Carlsberg A/S, Russia’s biggest brewer, said its markets share improved in the country as the maker of Tuborg reported third-quarter profit that met analysts’ estimates.

The Copenhagen-based company’s Russian volume market share improved to 37.9 percent in the third quarter from 36.5 percent in the second quarter, Carlsberg said in a statement today.

The world’s fourth-biggest brewer is feeling the pain from a weakening ruble, political turmoil and government regulation to curb drinking in Russia. Carlsberg is cutting back on production in the country and filling bottles with less beer while also introducing new products to boost sales.

Carlsberg also said its earnings before interest, taxes and one-time items was little changed at 3.39 billion kroner ($570 million) for the three months through September. The average of 11 analyst estimates compiled by Bloomberg was for 3.36 billion kroner. Quarterly sales advanced 4 percent to 18.1 billion kroner.

The brewer reiterated operating profit on a so-called organic basis will rise at a low- to mid-single-digit pace for the year and also repeated forecasts for reported operating profit and adjusted net profit.