DENMARK: Royal Unibrew raises guidance on strong H1
Danish brewer Royal Unibrew has raised its full-year sales and profits guidance after performing better than expected in the first half of 2010.
Royal Unibrew said late last week that like-for-like sales for the six months to the end of June rose by 2% on the same period of 2009, to DKK1.88bn (US$319.8m). Pre-tax profits quadrupled to DKK105m, while operating profits before exceptional items leapt by 133% to DKK152m.
"We are still seeing volatility and keen competition in all markets," said the brewer's CEO, Henrik Brandt. "We are therefore pleased to have continued the positive trend in the group's results in consequence of enhanced marketing efforts, new product launches, continued and persistent focus on strict efficiency management as well as competent and dedicated employees."
Royal Unibrew raised its earnings and sales guidance following the strong half-year result. It now expects sales for 2010 to be between DKK3.7bn and DKK3.85bn, compared to a previous forecast of DKK3.4bn to DKK3.6bn.
EBITDA is expected to be DKK100m higher than previsouly thought, within a range of DKK375m and DKK425m. Pre-tax profits guidance also rose by around DKK100m, to a range of DKK310m to DKK360m.
For the full announcement, click here.
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