Danish brewer Carlsberg says its revenue in the first quarter grew a mere 5 percent as business was impacted by divestments and a positive currency impact.
The Copenhagen-based company said Thursday that its revenue rose to 13.7 billion kroner ($2 billion) from 13.01 billion kroner a year earlier.
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CEO Cees 't Hart said the result represented a solid start to the year and that the company remains "on track to deliver on our 2017 commitments" and is maintaining its full-year outlook of "mid-single-digit percentage organic operating profit growth."
Carlsberg shares were up nearly 1 percent at 688.5 kroner ($101.07) in morning trading in Copenhagen.