Mette's Feed
Nov 13, 2013

Carlsberg still confident of Russia growth after third-quarter downturn

COPENHAGEN (Reuters) – Danish brewer Carlsberg A/S (CARLb.CO: Quote, Profile, Research, Stock Buzz) is confident of a return to growth in key market Russia after regulations to curb alcohol abuse dented third-quarter results, although western European markets may not pick up for a year or two.

Posting a 4.7 percent drop in quarterly operating profit on Wednesday, the world’s fourth-biggest brewer whose brands include Baltika, Tuborg and Kronenbourg said there was no reason yet to expect a return to growth in western Europe.

Nov 13, 2013

Carlsberg Q3 profit hurt as Russia, Asia revenue weaken

COPENHAGEN, Nov 13 (Reuters) – Danish brewer Carlsberg
reported falling operating profit in the third
quarter, with eastern European sales hurt by falling consumption
in Russia and much-needed Asian revenue stalled due to currency
movements.

The world’s fourth biggest brewer, like its rivals, has
expanded into emerging markets to counter slow growth in western
Europe, but the Russian market, once the main growth driver, has
been hit by government measures to curb alcohol abuse.

Nov 12, 2013

Carlsberg grabs Heinz veteran to cash in on Asian thirst

COPENHAGEN (Reuters) – Danish brewer Carlsberg (CARLb.CO: Quote, Profile, Research, Stock Buzz) has appointed former Heinz executive Christopher Warmoth as head of its Asia business to aim for a bigger share of the high-growth market to offset weak beer sales in recession-hit western Europe.

Asia has become the main battle ground for the world’s biggest brewers, such as Carlsberg, AB InBev (ABI.BR: Quote, Profile, Research, Stock Buzz), SABMiller (SAB.L: Quote, Profile, Research, Stock Buzz) and Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz), which are relying on growing middle classes in emerging markets to compensate for sluggish sales Europe and the United States.

Nov 6, 2013

Vestas turnaround kicks in as wind turbine orders surge

COPENHAGEN, Nov 6 (Reuters) – Denmark’s Vestas Wind Systems
raised its 2013 profit margin forecast on Wednesday and
said its orders surged, suggesting a turnaround drive to restore
its status as the world’s biggest wind turbine maker is starting
to pay off.

Quarterly profit rose more than expected at Vestas, which
replaced its chief executive two months ago after a string of
profit warnings bruised investor confidence.

Nov 5, 2013

Drug pricing challenges diabetes king Novo Nordisk

COPENHAGEN (Reuters) – Drug pricing is emerging as a key challenge for Novo Nordisk, the world’s biggest insulin producer, whose previously unstoppable growth has started to flag, according to the Danish firm’s chief executive.

Lars Sorensen is certain of one thing: the number of potential customers for his products is going to keep on rising as a global obesity epidemic tips more people into type 2 diabetes in the West and many developing nations.

Oct 31, 2013

Novo offers shy outlook as diabetes drug sales miss

COPENHAGEN (Reuters) – Danish drugmaker Novo Nordisk (NOVOb.CO: Quote, Profile, Research, Stock Buzz) missed forecasts for third-quarter profit and sales and gave a smaller than hoped growth outlook for next year, capped by a weakening dollar and slower growth of some of its best-selling drugs.

The world’s biggest insulin producer, which faces intensified competition in the fast-growing diabetes market as the world faces an epidemic of type 2 diabetes tied to over-eating and lack of exercise, said it expects high single-digit percentage operating profit and sales growth next year.

Oct 31, 2013

Novo’s diabetes drug sales, outlook lags forecasts

COPENHAGEN (Reuters) – Danish drugmaker Novo Nordisk (NOVOb.CO: Quote, Profile, Research, Stock Buzz) missed forecasts for third quarter profit and sales and gave a smaller than expected growth outlook for next year, capped by a weakening dollar and slower growth of some of its best-selling drugs.

The world’s biggest insulin producer, which has focused on diabetes during a worldwide epidemic of type 2 diabetes tied to over-eating and lack of exercise, said third quarter sales of modern insulins rose to 9.39 billion Danish crowns, missing the average 9.74 billion forecast in a Reuters poll.

Oct 11, 2013

Don’t blame Europe, stick with reform: Danish PM

COPENHAGEN (Reuters) – Denmark’s center-left prime minister, accused by her left-wing parliamentary backers of veering too far to the right, said on Friday the country had got through the worst of its economic crisis and should persevere with unpopular reforms.

Elected in 2011 promising to pull Denmark out of an economic slump, Helle Thorning-Schmidt is deeply unpopular half way through her term, opinion polls show, although analysts do not expect her minority government to fall.

Oct 7, 2013

NATO head expresses concern about Turkey’s Chinese missile deal

COPENHAGEN, Oct 7 (Reuters) – The head of NATO expressed
concern on Monday over Turkey’s decision to co-produce a missile
defence system with a Chinese firm, saying he expected Ankara to
choose a system that was compatible with those of other allies.

Turkey has said it is likely to sign a $3.4 billion missile
defence deal with a Chinese firm that is subject to U.S.
sanctions, although its decision is not yet final.

Oct 2, 2013

Danske CEO aims to repair bank’s image, boost returns

COPENHAGEN (Reuters) – Two weeks into his new job as head of Danske Bank (DANSKE.CO: Quote, Profile, Research, Stock Buzz), Thomas Borgen is confident he can repair the bank’s bruised image and revive returns for shareholders through keeping costs down, being more efficient and by sheer hard work.

Danske, Denmark’s biggest bank, has had a tough time along with its peers partly due to a burst property bubble as well as a struggling agriculture sector and a weak overall economy. On top of that, an advertising campaign last year backfired and hurt the bank’s image with customers.