GLOBAL: Carlsberg "cautious" for 2013 - analyst
Analysts suggest Carlsberg is being circumspect in its financial forecast for this year
Carlsberg is being “very cautious” in its earnings estimates for 2013, according to an analyst.
The Danish brewer said today (18 February) that, this year, it expects to deliver operating profits of around DKK10bn (US$1.79bn) and a “mid-single-digit” percentage increase in adjusted net profit. The forecast came as the group reported a modest rise in full-year net profits and sales.
But analysts Bernstein Research said in a note: "We believe that management is being very cautious, given that they also guided to low single-digit COGS inflation flat A&P (advertising and promotion)/sales and a 50-75bp fall in the cost of debt.”
Bernstein also noted that Carlsberg's operating performance was “marginally below expectations”, with volumes flat for the full year as growth in Western Europe and Asia was offset by declines in Eastern Europe.
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- Comment - How to Target Cognac's Mok Generation?
- Is Marketing Twisting the Meanings of Words?
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Africa: The Final Frontier for Beer