Carlsberg’s new strategy gets lukewarm response

Carlsberg’s attempt to regain momentum with a new strategy after years in the doldrums failed to convince markets yesterday, with shares in the Danish brewer falling as much as 3.2 per cent.

A central plank of chief executive Cees 't Hart's new approach is that Carlsberg will remain in Russia, despite the many challenges it has faced there. The Dutchman was brought in last year to solve Carlsberg's problems in Russia, which date back to its takeover of Russia's largest beer brand Baltika in 2008.

“We want to transform our business in Russia, and we understand what is required to make this happen,” he said.

Carlsberg’s new strategy would deliver organic sales growth and margin improvements, he said, although he would not give any indications as to how much. – (Reuters)