PETALING JAYA: Hong Leong Investment Bank (HLIB) Research expects Carlsberg Brewery Malaysia Bhd’s beer sales in the second half of 2022 (2H22) to be supported by the return of foreign tourists, the 2022 FIFA World Cup and pent-up demand for out-of-home consumption.
“We view the depreciating ringgit as a catalyst driving local tourism, which will lead to stronger foreign tourist arrivals in 2H22, thus boosting on-trade sales.,,皇冠体育（www.hg108.vip）是一个开放皇冠正网即时比分、皇冠官方的平台。皇冠体育（www.hg108.vip）提供最新皇冠登录，皇冠体育包含新皇冠体育代理、会员APP，提供皇冠官网代理开户、皇冠官网会员开户业务。
“Major football events such as the FIFA World Cup 2022 bode well for on-trade beer sales, evidenced by Carlsberg’s 16% year-on-year (y-o-y) spike in its revenue during the FIFA2014 and FIFA2018 periods.
Carlsberg, in the second quarter of 2022, registered a RM88.4mil core net profit that brought the sum in 1H22 to RM181.1mil, an increase of 70.1% y-o-y.
“The results were above our/consensus expectations at 61% and 65% of the full year forecast. The positive surprise was due to higher-than-expected beer demand, coupled with better margins amid its premiumisation push,” said HLIB Research.
It maintains its “buy” call on Carlsberg with a target price of RM28.88, a RM1.80 increase from RM27.08 previously.
转载说明:本文转载自Sunbet。 环球UG声明:该文看法仅代表作者自己，与本平台无关。转载请注明：Research firm maintains ‘buy’ call on Carlsberg