Carlsberg returns to profit in 2Q

Carlsberg returned to profit in the second quarter, with growing Asian markets helping offset Europe to earn the Danish brewing giant 3.36 billion kroner (451 million euros, $556 million) in net profit. The 63 percent gain in net profit during the April-June period by the world's fourth-biggest brewer beat expectations of 3.2 billion kroner of analysts polled by Dow Jones Newswires. Sales rose by five percent to 19.6 billion kroner, with also a five percent increase in sales by volume to 43.3 billion hectoliters of beer. Operating profit slid from by nearly 14 percent to 4.0 billion kroner due to higher input costs and intensive marketing during the quarter. Poor weather in nothern and western Europe hurt all brewers, but Carlsberg said it managed to increase market share, particularly thanks to its sponsorship of the Euro 2012 football championship. Net sales in Asia rose by 14 percent to 1.7 billion kroner during the second quarter, while they were flat in North America 10.8 billion kroner. "Carlsberg achieved positive market share growth in all three regions which shows that the recent years' significant efforts ... are paying off," chief executive Joergen Buhl Rasmussen explained in the earnings statement. Carlsberg posted a net loss of 76 million kroner in the first quarter.