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Carlsberg expects operating profit growth to slow this year -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Carlsberg logo is visible at the entrance to a Brussels pub on March 10, 2016, in Belgium. REUTERS/Yves Herman

COPENHAGEN, (Reuters) – Danish brewer Carlsberg (OTC) said Friday that it expects organic growth of operating profit to be below last year after posting higher-than-expected fourth quarter sales.

Carlsberg reported that the organic operating profit will increase by between 0 and 7% in 2022. That is down from 12.5% last year. It cited higher costs, continued coronavirus restrictions, and lower growth.

“We are extremely satisfied with the performance of the group in 2021. “We delivered strong top- and bottom-line growth, and free cash flow even though our business suffered from COVID-19,” Cees ’t Hart, Chief Executive of the Group stated in a statement.

“The significant increase in input costs and the continued effect of COVID-19 are going to pose serious challenges for 2022. But we are well-prepared.”

According to analysts, the world’s third largest brewer reported that sales for its fourth quarter were 15.2 billion Danish crowns (or $22.34 billion). This compares with 14.7 billion crowns which was estimated by an analyst in a poll.

($1 = 6.4918 Danish crowns)

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