Carlsberg's Russia struggle worsens as Heineken profits gain

Carlsberg and Heineken, two of the world’s top four brewers, signaled tougher times ahead for the beer industry as escalating political tensions in eastern Europe weigh on the region’s economy.

20th August, 2014
Carlsberg gets more than a third of its total selling volume from Russia

Carlsberg and Heineken, two of the world’s top four brewers, signaled tougher times ahead for the beer industry as escalating political tensions in eastern Europe weigh on the region’s economy.

Carlsberg, Russia’s biggest brewer, cut its full-year forecasts for revenue and earnings even as quarterly profit beat estimates, causing the shares to slump as much as 6.9 per cent.

Heineken said it expects growth to moderate in the remainder of...

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