Carlsberg Posts Q1 Loss

Denmark's company Carlsberg A/S (ADR) CABGY reported a net loss for the three months ending March 31. Carlsberg posted quarterly net loss of 90 million Danish kroner ($13.49 million), versus a year-ago loss of 67 million kroner. Its revenue rose 4.4 percent to 13.47 billion kroner from 12.90 billion kroner, while operating profit before items rose to 661 million kroner from 453 million kroner. Its revenue in Eastern Europe slipped 30 percent in the first quarter. Total beer sales volume rose to 27.5 million hl, versus 27.4 million hl. Carlsberg shares rose 2.08 percent to close at $19.13 yesterday.