Carlsberg has posted a much better than expected increase in operating profit in the second quarter and raised its financial outlook for this year.
One reason for that was a slowdown in the rate of decline in its biggest market, Russia.
In addition a rise in the value of the rouble against the Danish crowns boosted its earnings.
The brewer also raised its overall market share in all regions.
Carlsberg is active in 150 markets and has around 300 beer brands.
Most of its revenues come from western Europe but, as these markets are saturated, it is looking to Russia for growth.
However sales of beer there have been hit by a tripling in excise tax this year to combat alcoholism.