Carlsberg: 2Q profits rose 36 percent

Carlsberg: 2Q profits rose 36 percent : Carlsberg A/S on Tuesday reported a 36 percent rise in second-quarter net profits, saying stronger sales, particularly in eastern Europe and Asia, helped offset higher raw material prices and allowed it to charge more for its beer. The world's fifth largest brewer also raised its financial target, saying the company is aiming to increase its operating margins in Northern and Western Europe to 14-16 percent in the medium term, and to 23-25 percent in Eastern Europe. The previous targets were of 10.5 percentand 22.1 percent, respectively. Gudme Raaschou Bank analyst Stig Nymann said the second quarter report included "nice figures." He noted the targets for Northern and Western Europe, saying Carlsberg should aim for the long haul and "work to get these margins further up." The Carlsberg... [read full story]