Carlsberg posted a sharp rise in third-quarter sales and volumes, driven by its acquisition of British soft-drinks maker Britvic, even as its underlying organic sales declined.
The Danish brewer said Thursday that reported revenue grew 17.8% to 24.14 billion Danish Kroner, while reported volumes rose 16.2%.
However, organic volumes, which strip out the impact of acquisitions, fell 3.0% amid what the company described as challenging consumer sentiment.
Carlsberg raised its expected total cost synergies from the Britvic integration to 110 million British Pounds, up from a previous target of 100 million British Pounds, stating the process remains on track.
The company maintained its full-year earnings guidance for organic operating profit growth of 3% to 5%.
"We delivered strong reported growth driven by the Britvic acquisition," Group CEO Jacob Aarup-Andersen said in a statement.
"The integration of Britvic is progressing very well. We recently raised our cost synergy expectations and are very pleased with the momentum of the business."
More from this issuer
Related coverage
Carlsberg raised its full-year profit forecast on Thursday, even as its organic beer sales volumes declined in the first half of the year.