date:May 08, 2014
Carlsberg, the worlds fourth-biggest brewer, cut forecasts for earnings because demand in Russia will shrink more than anticipated as political turmoil weighs on the companys biggest market.
Operating profit and net income adjusted for one-time items will rise by low single-digit percentages this year, slower than the mid-single-digit gains foreseen earlier, the Copenhagen-based company said in a statement today.
Industrywide demand in Russia, where Carlsberg is the largest brewer, will shrink