<p>A rebound in Chinese beer sales in the first quarter helped Carlsberg to beat analyst expectations, even as lockdowns depressed markets in Western Europe, the Danish brewer said on Wednesday.</p>.<p>The world's third-biggest brewer, after Heineken and Anheuser Busch Inbev, said volumes sold in China increased by more than 50% compared with the first three months of last year and by 20% from the same period in 2019.</p>.<p>"This is more than just an easy comparison to last year," Chief Executive Cees 't Hart said at a conference call referring to the outbreak of the novel coronavirus that locked down China early last year.</p>.<p>"It shows that we are more than back on track in China and that we have regained our momentum," he said.</p>.<p>Volumes declined by 6% in the more profitable Western European market, although the company had a "relatively good start to April" and saw "good progress" in Britain, where pubs reopened this month, Hart said.</p>.<p>Total sales between January and March stood at 13.0 billion Danish crowns ($2.11 billion), compared with 12.8 billion estimated by analysts in a poll gathered by the company.</p>.<p>The situation is similar to that of rival Heineken, which last week beat expectations as beer sales in Africa and Asia increased, but were offset by a sharp decline in Europe.</p>.<p>The positive start to the year led Carlsberg to increase minimum expectations for profit growth for this year. It expects operating profit to grow between 5% and 10%, compared with its previous guidance of 3% to 10% growth.</p>.<p>The brewer has also launched a share buy-back programme, aiming to purchase shares worth 1 billion crowns until August 13.</p>.<p>Carlsberg's shares traded 0.5% higher at 0748 GMT, near an all-time high reached last week, and are up 10% since the start of the year.</p>
<p>A rebound in Chinese beer sales in the first quarter helped Carlsberg to beat analyst expectations, even as lockdowns depressed markets in Western Europe, the Danish brewer said on Wednesday.</p>.<p>The world's third-biggest brewer, after Heineken and Anheuser Busch Inbev, said volumes sold in China increased by more than 50% compared with the first three months of last year and by 20% from the same period in 2019.</p>.<p>"This is more than just an easy comparison to last year," Chief Executive Cees 't Hart said at a conference call referring to the outbreak of the novel coronavirus that locked down China early last year.</p>.<p>"It shows that we are more than back on track in China and that we have regained our momentum," he said.</p>.<p>Volumes declined by 6% in the more profitable Western European market, although the company had a "relatively good start to April" and saw "good progress" in Britain, where pubs reopened this month, Hart said.</p>.<p>Total sales between January and March stood at 13.0 billion Danish crowns ($2.11 billion), compared with 12.8 billion estimated by analysts in a poll gathered by the company.</p>.<p>The situation is similar to that of rival Heineken, which last week beat expectations as beer sales in Africa and Asia increased, but were offset by a sharp decline in Europe.</p>.<p>The positive start to the year led Carlsberg to increase minimum expectations for profit growth for this year. It expects operating profit to grow between 5% and 10%, compared with its previous guidance of 3% to 10% growth.</p>.<p>The brewer has also launched a share buy-back programme, aiming to purchase shares worth 1 billion crowns until August 13.</p>.<p>Carlsberg's shares traded 0.5% higher at 0748 GMT, near an all-time high reached last week, and are up 10% since the start of the year.</p>