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Carlsberg India witnessed a "strong recovery" in the first half of 2022 as its business grew 50 percent during the same period.
Danish brewing major Carlsberg India witnessed a "strong recovery" in the first half of 2022 as its business grew 50 percent during the same period. The growth was on account of hot summer and a low corresponding comparable base.
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The company, which sells Carlsberg and Tuborg brands in the Indian beer market, had a "strong recovery" after a difficult start to the year due to the coronavirus pandemic. The volumes for the first half of this year was "above the pre-COVID level in 2019", Carlsberg Group said in its earning statement on Wednesday.
"After a soft start to the year, our Indian business recovered strongly and grew by almost 50 percent," it said. Both the Carlsberg and Tuborg brands grew strongly, and "we gained market shares in our key states, the company said.
In markets such as China, the group's business was impacted by the pandemic restrictions during the April-June period. The group reported an organic volume growth of 8.9 percent, driven by Western Europe And Asia in the first half of 2022.
During the period under review, its premium brands had "solid volume growth". The brands include Tuborg, Carlsberg, Grimbergen, Somersby and Brooklyn. "Tuborg volumes grew by 14 percent, driven particularly by Asia, notably India and China, and Central & Eastern Europe," it said.
Globally, Carlsberg volumes were up by 20 percent. "The growth was broadly based across markets and regions with particularly strong growth in markets such as India, Malaysia, Singapore, France, the UK, Germany, Switzerland and export & licence markets," it added.
In the first half, Carlsberg Group's organic revenue was up 23.6 percent to 35,447 million Danish Krone ($4.85 billion). "We are very satisfied with the strong set of results for the first half year in light of the severe challenges stemming from the war in Ukraine, rising commodity prices and energy costs, and the pandemic.
"Despite these challenges, the Carlsberg Group's half-year results are now well ahead of pre-pandemic levels," Carlsberg CEO Cees't Hart said.