Fizz to fall out of Carlsberg profits in 2012
DANISH brewer Carlsberg yesterday warned its operating profits will be flat in 2012, hit by declining beer markets in northern and western Europea while its biggest market, Russia, will show a slow recovery.
The world’s fourth largest brewer said yesterday it expects the Russian beer market to return to modest growth this year after a three per cent fall in 2011 in the wake of big tax hikes, high inflation and regulations.
The group, which brews Baltika, Tuborg as well as Carlsberg beers, makes nearly a third of its sales in Russia with a market share of close to 40 per cent, and expects the world’s fourth biggest beer market to start recovering in 2012.
The group said fourth quarter operating profit rose to 1.83bn Danish crowns (£205.6m) from 1.13bn a year earlier, but added 2012 underlying operating profits will be flat.
Group sales rose to 14.85bn crowns in the fourth quarter from 13.4bn a year earlier.