Carlsberg revenue growth likely to turn positive by 2H24

PETALING JAYA: The worst of Carlsberg Brewery Malaysia Bhd’s year-on-year (y-o-y) revenue declines is over and the group’s y-o-y revenue growth should turn positive by the second half of 2024 (2H24), says CGS International (CGSI) Research.

It said local breweries are expected to receive an added boost in consumption demand from a further recovery in tourist arrivals and improved economic activity in the latter half of the year.