On Thursday, as Russians stocked huge piles of beer supplies right before a huge tax which will be imposed on the beverage starting New Year's Day, Danish brewer Carlsberg raised its complete year earnings outlook for the 2009 financial year.

The maker of popular brands of beer, Carlsberg, Tuborg and Kronenbourg, has shared that it is now expecting profits of at least 9.3 Danish Kroner ($1.8 Billion), after revising the previous estimated figure of 9 Billion Kroner.

It was last month decided by the Russian State Duma that beer taxes would be raised starting next year to 9 Rubles per liter, from the previous 3 Rubles a liter and the most popular beers in Russia are already sold for an average of 50 Rubles a bottle. The tax is applicable to both local and foreign brands.

"Our view of the total Russian market is unchanged. This is purely a shift in timing of revenue, as we get sales now, but consumers won't feel it until late", said Chief Executive Jorgen Buhl Rasmussen.

Carlsberg also took the opportunity to share that it is continuing with the process of looking for partners to develop its Valby site in Denmark. The company has been trying to spot a buyer for the site and is aiming at remaining only a minor partner in the project.