Monday, 30 April 2012

Carlsberg up at noon on plans to hike prices

KUALA LUMPUR (APRIL 30): CARLSBERG BREWERY MALAYSIA BHD [] shares advanced at noon on Monday after the company last week said it would introduce a 3% general increase in price effective May 1, 2012.

At 12pm, Carlsberg was up 12 sen to RM11.60 with 238,900 shares done.

“The adjustment is not a dramatic one and is in line with inflation levels,” said its managing director, Soren Ravn after the group’s AGM last Thursday.

Ravn said the recent introduction of premium labels Asahi and Kronenbourg currently hold 16% to 17% market share in the premium segment while good growth is expected to continue.

Carlsberg’s premium brands currently contribute just under 10% to the group’s total revenue of RM1.5 billion for FY11. A 100% profit distribution has also been declared, at a total gross dividend of 72.5sen, he said.

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