Carlsberg: Disappointing 4th quarter

Carlsberg’s performance in the fourth quarter was weaker than expected and the result was an operating profit of DKK 1,643 million.
According to SME Direkt the analysts had forecast an operating profit of DKK 1,675 million. The result in the fourth quarter the previous year was DKK 1,387 million.

Profit before tax amounted to DKK 546 million compared to a loss of DKK 1,238 million in the fourth quarter 2008. This result was also weaker than forecast by the analysts, who had expected a profit before tax of DKK 960 million.

Profit attributable to shareholders amounted to DKK 383 million compared to DKK 124 million in the same period the previous year.
Net revenue amounted to DKK 13,616 million compared to DKK 14,524 million in the fourth quarter of 2008. The analysts had expected revenue of DKK 14,006 million. The group operating margin was 12.1 per cent compared to the analysts’ expectation of a margin of 12.0 per cent and 9.5 per cent in the fourth quarter of 2008.
Special items amounted to DKK -324 million which was a significant reduction compared to DKK -1,344 million in Q4 2008. Direkt/BNS