(CercleFinance.com) – Carlsberg has kept its financial forecasts unchanged for the 2024 financial year, a posture considered prudent by the market after a better-than-expected first quarter.
The Danish brewer indicates that it has recorded a ‘solid’ start to the year, with organic growth of 2% in its sales volumes, driven mainly by activity in Asia (+3.1%).
In terms of brands, Tuborg’s sales volumes increased by 8% over the quarter, those of Carlsberg by 15%, and those of Grimbergen 6%.
Disappointment, on the other hand, for 1664 Blanc (0%), Brooklyn (-1%) and Somersby (-4%), a popular cider in Denmark.
The group adds that organic growth in its turnover amounted to 6.4% over the first three months of the year, compared to only +4.8% expected by the market.
In view of this performance above expectations, investors expressed their disappointment at the absence of an upward revision of annual objectives, the group still aiming for organic sales growth of 1% to 5% this year deemed ‘cautious’ by some analysts.
The stock therefore fell by 0.3% on Tuesday on the Copenhagen Stock Exchange.
Copyright (c) 2024 CercleFinance.com. All rights reserved.