Carlsberg shares drop on weak China sales
Carlsberg missed half-year profit estimates as severe weather in China weighed on demand. Despite strong soft drink growth, shares fell four percent to a seven-week low.
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CARLSBERG-A missed first-half profit and sales estimates on Wednesday as severe weather compounded weak demand in China, sending its shares down 4% to a seven-week low. The setback occurred despite accelerated cost synergies from a recent soft drinks acquisition. Operating profit landed at 7.45 billion Danish crowns ($1.15 billion), missing analyst expectations for 7.55 billion crowns.
