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Danish brewer Carlsberg says profits down 3 per cent in third quarter

STOCKHOLM – Danish brewer Carlsberg says its profit dropped 3 per cent in the third quarter, citing negative currency effects and restructuring charges.

Net profit was 2.18 billion kroner ($365 million), compared with 2.25 billion kroner in the same period last year.

Revenue rose to 18.1 billion kroner from 17.4 billion kroner a year ago, as stronger sales in Asia outweighed a drop in volumes sold in Russia.

The Danish company owns a range of brands across the world, including Baltika Breweries, based in its vast Russian market. Consumers there are drinking less due to uncertainty about the country’s economy.

Carslberg shares were up 3 per cent at 524 kroner in early trading in Copenhagen.