DENMARK: Harboes earnings on the slide
Harboes Bryggeri has reported a slide in full-year sales and revenue.
The Danish brewer and soft drinks producer said yesterday (5 July) that earnings before interest (EBIT) fell in its financial year 2005/2006 to DKK98.85m (US$16.87m), compared to DKK136.72m a year earlier.
The result missed a downgraded profit forecast that Harboes issued in March. Harboes had lowered its full-year pre-tax profit target to DKK100m from DKK140m.
Net turnover for the year, meanwhile, came in at DKK1.36bn, down from DKK1.45bn in 2004/2005. The company blamed the slide on difficulties and increased costs related to the introduction of PET bottles in Denmark.
Since their introduction 30 years ago, the use of PET bottles has expanded hugely in the soft drinks market, writes Richard Corbett of industry analysts Canadean. But challenges remain, not least boos...
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The use of PET bottles in the drinks industry looks set to continue expanding despite price increases for the packaging method....
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