DENMARK: Harboes earnings on the slide

By just-drinks.com editorial team | 6 July 2006

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.

Sectors: Beer & cider, Soft drinks