Carlsberg raises profit outlook on higher beer prices

Big brewers have been working hard to keep consumers drinking their premium suds after implementing the biggest price hikes in decades to offset higher input costs

Carlsberg posted a first-half operating profit growth of 5.2% which was well ahead of analyst consensus estimates of 0.5% growth.

Carlsberg increased its annual profit forecast again after a solid first half where the Danish brewer raised beer prices to offset rising costs.

The maker of Tuborg and its namesake beer now expects annual operating profit growth of 4% to 7%. That compares to previous guidance of minus 2% to 5% growth and analyst consensus estimates of 5.8%.