![Carlsberg estimates operating profit growth of up to 5% in 2024](https://i-invdn-com.investing.com/trkd-images/LYNXMPEK16076_L.jpg)
© Reuters. FILE PHOTO: A bar employee carries a tray of Carlsberg beer in Copenhagen, Denmark, July 30, 2022. REUTERS/Andrew Kelly/File Photo
LONDON (Reuters) – Danish brewer Carlsberg (CSE:) mentioned on Wednesday it expects natural working revenue development of 1% to five% in 2024 and inflationary pressures to average.
The world’s third-largest brewer and maker of manufacturers reminiscent of Kronenbourg 1664 reported a 4.7% rise in 2023 income to 73.59 billion Danish crowns, narrowly topping the 73.31 billion anticipated by analysts, LSEG information confirmed.
It mentioned it expects a better value base in 2024 however will look to offset this with increased income per hectolitre and tight value controls, although it might improve gross sales and advertising and marketing investments, the latter by over 10%.
CEO Jacob Aarup-Andersen mentioned the corporate’s monetary well being meant it may improve spending on development initiatives and nonetheless ship on its ambitions.
“The outperformance of our premium portfolio and our results in key Asian markets in 2023 are an affirmation that we have a strong platform to expand from,” he mentioned in an announcement.
Carlsberg reported natural working revenue development of 5.2%, across the center of its guided vary of 4-7%.
It raised its 2027 development targets on Tuesday.