Strong 4Q sales to brighten Carlsberg’s prospects

TA Research has trimmed its financial year 2024 forecast earnings estimates by 7.1% to reflect the impact of the discontinuation of the Asahi exclusive distribution in Malaysia.

PETALING JAYA: Despite the “cautious” outlook for Carlsberg Brewery Malaysia Bhd, analysts expect consumer spending to remain strong due to the tight labour market and accommodative interest rate environment.

TA Research said stronger sales are expected in the fourth quarter of financial year 2023 (4Q23) and 1Q24 in conjunction with year-end festivals and the Lunar Chinese New Year.