Carlsberg decided to raise its organic growth outlook for 2024 despite its second-quarter sales falling short of expectations. Sales from the second quarter came in at 21.64 billion Danish crowns ($3.14 billion), falling short of an expected 22.1 billion as projected by analysts in a poll conducted by the beer producer. This is still a marginal rise from the 21.38 billion generated during the same quarter the previous year.
“As a result of continued solid execution and good cost control, we’re increasing our earnings expectations for the year despite volumes in Q2 being challenged by bad weather and weak consumer sentiment in some Asian markets,” Carlsberg CEO Jacob Aarup-Andersen explained in an official statement.
Given the company’s positive outlook due to its efficient internal operations, Carlsberg raised its full-year organic operating profit outlook to a range of 4% to 6%, up from a previous range of 1% to 5%.