Carlsberg targets cost savings

The purchase with Heineken of Scottish & Newcastle – along with other acquisitions – added an extra 39% to its beer volumes in the first quarter of the year, but organic sales slumped 5%, with northern, western and eastern Europe suffering worst.

Asia was the bright spark with high single-digit growth.

Greater efficiencies saw organic operating profit in its beverage businesses of 34%.

Chief executive officer Jorgen Rasmussen said: "We have continued to focus on reducing costs and improving efficiency to protect earnings and improve cash flow.

"Our performance was in line with expectations in a market environment that was challenging as anticipated.

"We are well-prepared for the challenges ahead, and will continue to monitor and manage the business carefully and balance the need for cost reductions while pursuing our long-term growth plans."

 

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