By Emma Rumney
LONDON, Feb 4 (Reuters) - Danish brewer Carlsberg on Wednesday reported a 5% rise in full-year operating profit, beating analyst expectations, helped by cost-cutting and stronger-than-anticipated
benefits from its acquisition of soft drinks maker Britvic.
The world’s third-largest brewer behind Anheuser‑Busch InBev and Heineken reported organic operating profit of 13.99 billion Danish crowns ($2.22 billion) before special items. Analysts had expected 13.82 billion crowns, according to a company‑compiled consensus.
The company, which owns brands including Kronenbourg 1664, Tuborg and Somersby, has outperformed some peers amid weak global beer demand, supported by its acquisition of Britvic, which completed last year and doubled the share of soft drinks in its portfolio to 30% of volumes.
The group has also tightened spending on travel, consultants and headcount to protect earnings while managing pressures ranging from subdued consumer demand to the effects of U.S. tariffs and the war in Ukraine.
CEO Jacob Aarup-Andersen also pointed to the takeover of a soft drinks business in Central Asia and accelerated growth in India as supporting Carlsberg's performance.
"On the back of this, supported by tight cost focus and strong performance management processes, we achieved solid earnings growth," he said.
Carlsberg forecast profit growth of between 2% and 6% in its current financial year - in line with expectations from analysts at Jefferies and Barclays.
($1 = 6.3110 Danish crowns)
(Reporting by Emma Rumney, Editing by Louise Heavens)
