Carlsberg reports first sales decline in two years

CARLSBERG A/S reported its first decline in quarterly sales in two years as lockdowns led to a slump in demand in China, where the Danish company has become one of the most prominent beermakers in recent years.

Revenue in the first quarter fell 7.4% on an organic basis, reaching 12.9 billion kroner ($1.9 billion). Analysts expected 12.8 billion. Carlsberg warned second-quarter volumes will decline further.