Carlsberg reports Q1 doubled net loss

Beer group Carlsberg reported a doubled net loss for the first quarter yesterday, disappointing analysts, but stood by its forecasts for the full year. But underlying operating profit and sales rose sharply, and the shares showed an initial gain of 6.6 per cent to 282.50 kroner.

The net loss was 212 million kroner (€28.45 million) from a loss of 129 million kroner in the same period of last year. The outcome was in line with a forecast by the company but was far higher than expected by analysts.

Earnings before interest and tax rose by 103 per cent to 788 million kroner. Sales also rose by 25 per cent to 11.79 billion kroner from 9.44 billion kroner. Analysts had expected a net loss of 38 million kroner, an operating profit of 756 million kroner and sales of 11.79 billion kroner.