Carlsberg Brewery Malaysia Bhd managing director Stefano Clini
KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd
remains optimistic that stronger local economic growth could boost consumer sentiment, despite ongoing global uncertainties and inflationary pressures.
Additionally, the brewer said the upcoming year-end festivities, including an earlier Chinese New Year celebration, are expected to positively impact the fourth-quarter sell-in volume.
“We will remain focused on our cost management and optimisation strategies in the supply chain. The productivity gains achieved will allow us to accelerate investments in all our brands. We believe that our consistent approach will support our sustained growth, thereby creating value for our shareholders,” managing director Stefano Clini said in a statement.
In the third quarter ended Sept 30 (3Q24), Carlsberg’s net profit rose 19.8% to RM90.9mil, or earnings per share of 29.75 sen compared with RM75.9mil, or 24.84 sen in the same corresponding quarter last year.
Revenue for the period rose to RM555.9mil against RM513.4mil posted last year.
The group’s operations in Malaysia achieved revenue growth of 14.2% with higher volume aided by price increases and an improvement in the premium mix, in contrast, however, the operations in Singapore recorded a decline in revenue of 6.0% due to unfavourable premium and channel mix, mainly from the transition from the Asahi brand to the Sapporo brand.
In the first nine months to Sept 30, Carlsberg posted a 6.5% rise in revenue to RM1.8bil.
The brewer said the higher revenue of 9.6% in Malaysia was achieved given the longer selling-in period for Chinese New Year in 2024 compared to the prior year, aided by the price increase and the improvement in premium mix. This offset the decline of 1.5% in revenue recorded in Singapore due to the transition from the Asahi brand to the Sapporo brand.
The group’s profit from operations rose by 5.1% to RM324.2mil. This strong performance was partially offset by a deferred tax liability of RM11.2mil from foreign withholding tax in Lion Brewery (Ceylon) PLC, with RM10.8mil incurred in Q1FY24. As a result, net profit grew by 3.6% to RM258.3mil.
Carlsberg has announced a third interim dividend of 23 sen per share for 3Q24, bringing the cumulative interim dividend to 65 sen per share for FY24.
“We are pleased to deliver solid top and bottomline growth for the nine months to date thanks to the strategic portfolio choices made, which have yielded positive results, alongside excellent execution in the trade and our cost management initiatives.
“As part of our ongoing brewery transformation, the group has completed the installation of the new canning line and upgraded the filtration plant,” Clini said.
