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Carlsberg beats forecasts but widens outlook amid falling demand
(Sharecast News) - Carlsberg reported better-than-expected annual profits on Wednesday but widened guidance for the current year as the alcoholic drinks industry wrestles with falling demand from health and cost-conscious consumers. The Danish brewer said full-year operating profits rose 5% to 14 billion Danish crowns boosted by sales from newly-acquired soft drinks maker Britvic. Analysts had forecast earnings of DKR 13.82bn, according to a company-compiled consensus of estimates.
However, the company added that it now expected organic growth of 2 - 6% this year wider than 3 - 5% a year earlier. "Adult" soft drink makers are now become targets for major brewing companies as pub sales of very expensive alcoholic drinks fall amid higher everyday goods prices and pushback against the health impacts of heavy consumption.
Carlsberg bought Britvic, which Robinsons squash and J20 juices, last year to diversify its portfolio.
"We've taken significant steps towards building a broad and diversified beverage portfolio," said chief executive Jacob Aarup-Andersen.
"The combination of beer and soft drinks is therefore unlocking exciting new opportunities for both growth and value creation."
Reporting by Frank Prenesti for Sharecast.com
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