Carlsberg AS reports $55 million loss in 1Q.

Carlsberg AS, the world's fifth-largest brewer, has reported a wider than expected first-quarter net loss, and has blamed weak beer sales in western Europe.

The net loss for the January-March period was 319 million kroner ($55 million), compared with a loss of 74 million kroner in the same period a year earlier.

The Danish brewer reported that revenues rose 8.7 percent to 7.4 billion kroner ($1.3 billion) on a combination of acquisitions and higher sales, but the rise was offset by a 12 percent increase in costs.

The brewer says it still believes that it will turn a profit for the full year.