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Carlsberg announces plans to improve profit after Q3 loss

Xinhua, November 11, 2015 Adjust font size:

Danish brewer Carlsberg announced plans on Wednesday to improve profit as it posted a third-quarter loss mainly due to impairment of its Russian brands and Eastern assets in China.

The new program, which merges all the existing and also new profit improvement initiatives, contains impairment and restructuring costs during 2015 to 2017 of 10 billion Danish kroner (1.4 billion U.S. dollars), of which around 8.5 billion kroner (1.2 billion dollars) will be charged in 2015, the company said in a statement.

"Acknowledging the fact that the profit development of recent years has not been satisfactory, we are taking further steps to prepare the Carlsberg Group for the future," said Cees't Hart, CEO of Carlsberg.

Moreover, the world's fourth-largest brewer will cut 2,000 jobs globally, which is 700 more than it had announced previously. Endi