Danish brewer Carlsberg has posted a 2% organic increase in revenue for full-year 2016, according to results posted this morning, of DKK 62.6 billion (around €8.42 billion).
Volume growth was seen across the company’s three biggest brands: Carlsberg (+5%), Tuborg (+9%) and Grimbergen (+11%).
The company said that its organic operating profit was up 5% for the year, however, if currency impacts and business disposals are included, operating profit was down 3%, to DKK 8.24 billion.
Operating margin improved by 30bp, to 13.2%.
“2016 was a good year for the Carlsberg Group,” said CEO Cees 't Hart. “We’re satisfied with our performance and the delivery of 5% organic growth in operating profit, a solid price/mix, strong cash flow, and a further reduction in financial leverage.
“During the year, we took significant steps to become a more successful company. We launched our new strategy – SAIL’22 – and its priorities are now well integrated in our plans for 2017. In addition, Funding the Journey [a cost-cutting plan at the business] delivered benefits faster than anticipated for the year.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.
