COPENHAGEN, Feb 7 — Danish brewer Carlsberg warned today that a possible slowdown of beer consumption in Europe because increases in prices could dent profit growth this...
COPENHAGEN, Feb 7 — Danish brewer Carlsberg warned today that a possible slowdown of beer consumption in Europe because increases in prices could dent profit growth this year.
Carlsberg expects organic operating profit this year to change by between minus 5 per cent and plus 5 per cent, compared with 12 per cent growth last year.“While beer historically has been a resilient consumer category, the higher prices in combination with generally high inflation may have a negative impact on beer consumption in some of our markets, particularly in Europe,” he said.
This echoes comments by the Nestle CEO last week about plans to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers. The company expects to have found a buyer and signed an agreement by June, although finalising the deal depends on the Russian authorities, Hart said. Carlsberg is seeking an option with the buyer to buy back the Russian business in future.
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