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-Carlsberg confirms outlook for 2011.

NORDIC BUSINESS REPORT-May 11, 2011--Carlsberg confirms outlook for 2011(C)2011 M2 COMMUNICATIONS

11 May 2011 - Danish brewery group Carlsberg A/S (CPH: CARL B) confirmed today its expectations that net profit would grow by 20% year-on-year in 2011 and operating profit would increase by a high single-digit percentage.

The comparable net result for 2010 is adjusted for non-cash, non-taxable income of DKK598m under special items related to new acquisition accounting regulation, Carlsberg said in its report for the first quarter of 2011.

In addition, the company still expects to boost its share of markets representing two-thirds of its business.

The outlook is based on the assumption for low single-digit decline in northern and western European markets, growth of 2%-4% in the Russian market, continued growth in key markets across Asia, increased cost of sales due to higher input costs, and marketing investments as percentage of sales slightly exceeding the 2010 level.

For 2010, Carlsberg posted a 49% rise in net profit to DKK5.351bn including special items, while operating profit increased 9% to DKK10.249bn.

(EUR1 = DKK7.5)

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Publication:Nordic Business Report
Date:May 11, 2011
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