Carlsberg’s shares slid 6 per cent on Friday, hitting their lowest levels for more than two years, after the Danish brewer drastically cut its growth forecast for Russia, its biggest single market.

Carlsberg warned that third-quarter Russian sales volumes would be lower than last year. It also cut full-year forecasts for the Russian market from 5 per cent to between 1 and 2 per cent. Shares in the brewer, which reports third-quarter results next month, closed down Dkr21.5 at Dkr325 in Denmark.