(News Bulletin 247) – The Danish brewer Carlsberg raised its objectives for the 2023 financial year last night after a first half described as ‘solid’, driven in particular by the success of its most high-end beers.
The group said yesterday that it now expects organic growth in operating profit to be in the range of around 4% to 7%, whereas it has so far envisaged a development ranging from -2% to + 5%.
But the consensus was already targeting growth of around 5% this year.
In the first half, its operating profit increased by 5.2% in organic data, while the average forecast of analysts was established at +1.7%.
If Carlsberg also announced the immediate launch of a new share buyback program worth one billion Danish kroner, analysts were hardly impressed by these figures.
In a note of reaction, the RBC teams evoke a “rather disappointing” publication, the half-year result better than expected coming according to them mainly from Western Europe and from the reduction in commercial costs and marketing expenses.
As a result, its action lost 1.8% on Wednesday morning on the Copenhagen Stock Exchange.
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