Carlsberg warns of steep sales fall in Russia

Carlsberg on Wednesday warned that beer sales in its key Russian market would fall more steeply this year than previously expected but insisted its aggressive expansion in the country remained a wise investment.

Russian sales declined 9 per cent in the second quarter as the country struggles through its worst recession in a decade but Jørgen Buhl Rasmussen, Carlsberg’s chief executive, said he was still bullish about the country.