Carlsberg's Western Europe Performance in Focus -- Market Talk

Dow Jones08-14

0724 GMT - Carlsberg investors and analysts are likely to focus on European challenges, along with weakness in China, following its 1H performance and guidance upgrade, Barclays analysts say in a note. The brewer's performance mainly missed expectations in Western Europe, as organic sales grew 1.3% compared with market expectations of 3.5% due to a combination of poor weather and a tough comparative in June, they say. Despite already being known, the company terminated the San Miguel license in the U.K., which will affect numbers in 2025, they add. While the guidance upgrade is likely to be seen as modest as it came below expectations, the market consensus could have been lowered since it was collected following the weak Heineken results and recent Nielsen data. Shares are up 0.9%, but down 19% on a 12-month basis. (michael.susin@wsj.com)

(END) Dow Jones Newswires

August 14, 2024 03:24 ET (07:24 GMT)

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