Interim report for the period 1 May 2011 to 31 January 2012

4/12/2012 6:16 AM EST

Harboes Bryggeri A/S
Quarterly report

Interim report for the period 1 May 2011 to 31 January 2012

Harboes Bryggeri A/S

Skaelskoer, 2012-04-12 12:16 CEST (GLOBE NEWSWIRE) -- 



CEO Bernhard Griese on the interim report:

“We obtained satisfactory growth in revenue and increasing volumes during the
first three quarters of the year despite the negative impact of a cold and wet
high season. We maintained our strong position in the large European drinks
markets and ensured efficient utilisation of capacities. 

We continue the intensive targeting of new markets in Asia, Africa and the
Middle East. We see a continued attractive geographical potential for both
traditional drinks and our new innovative malt extract products, which are at
the centre of our development activities. 

However, earnings are under pressure from marked increases in the prices of our
primary raw materials and consumables, which cannot simply be added to selling
prices. Consequently, we need to revise our outlook for the year as a whole for
an EBITDA of DKK 140-150 million against a previous outlook of DKK 160-170
million and a profit before tax of DKK 50-60 million against a previous outlook
of DKK 70-80 million.” 



Bernhard Griese

CEO