Dive Brief:
- Carlsberg, the fourth-largest brewer on earth, reported flat earnings and a 4% increase in sales in its most recent quarter.
- Currency woes, government regulation, and political turmoil plagued Russia, where Carlsberg is the largest seller of beer.
- Sales soared 61% in Asia, largely on acquisitions.
Dive Insight:
Carlsberg is in an unusual position in Russia, where global rivals are suffering badly under Putin's import bans. That's because Carlsberg operates breweries within Russia, and thus is immune to the import restrictions. That, combined with heavy marketing efforts in recent months, have translated into market share gain for Carlsberg in that country.