The Danish brewery conglomerate Carlsberg, following strong growth in its premium beverage portfolio in key Asian markets, has launched a new share buyback program worth 1 billion Danish kroner ($143.7 million) and affirmed its annual forecast.

The company announced on Tuesday that organic volumes have increased by 2.0% overall, driven by the growth of its premium portfolio in markets such as China and Vietnam.

In China, volumes increased by 5%, benefiting from a well-conducted Chinese New Year, according to the company.

Overall, beverage volumes rose by 2.1% to 29.2 million hectoliters, in line with a company-wide consensus.

"We have had a solid start to the year with volume and revenue growth in all three regions," said CEO Jacob Aarup-Andersen. "We are particularly pleased with the growth of our premium portfolio and the volume and revenue growth in Asia, both of which are important strategic growth drivers for the group."

The company's revenue in the first quarter amounted to 17.13 billion Danish Kroner, compared to 16.41 billion the previous year, and against the expected 16.99 billion according to an internal company consensus.

Organic revenue growth was 6.4%, driven by price increases and customers increasingly purchasing premium beverages.

Carlsberg still expects organic operating profit growth of 1% to 5% in 2024, but now anticipates a negative currency impact on operating income of around 250 million Danish Kroner, compared to 100 million previously.