10.11.2014 - Carlsberg profit fell due to exchange rate differences
Producer of beer Carlsberg announced a decrease in revenue due to lower currency in Russia, Ukraine, Belarus and Norway. As a result, when translated into Danish kroner, the company's revenue has decreased. As a result, net income for the year fell to 2.1 billion kronor (350 million dollars). It is worth noting that revenues rose to 18.12 billion Danish kroner. Given the decline in demand for beer and significant competition, together with the devaluation of the national currency in Norway and eastern European countries, in the company forecast a profit decline by about 4-6%. We recommend to refrain from buying shares of the company in the medium term.