Malaysia: Heineken Malaysia’s Q3 net profit soars 31%
Heineken Malaysia Bhd’s net profit soared 31% to RM103.3 million in its third quarter ended Sept 30, 2019 against RM78.87 million in the same quarter a year ago, on the back of revenue growth, improved cost efficiency as well as the timing of commercial spend for new product launches, The Sun Daily reported on November 28.
Revenue for the quarter increased 17.7% to RM602.53 million from RM512.01 million.
Heineken’s managing director, Roland Bala commented that its third-quarter results reflect strong execution of commercial priorities and operational efficiencies in a challenging environment.
“During the quarter, we were pleased to launch exciting innovations providing our consumers exceptional experiences with our world-class brand campaigns and activations,” he said in a press release.
Moving forward, Roland stated that the group remains cautious on the outlook given the softening economic environment, competitive market conditions and the continued threat from the illicit trade.
“Revenue for the final quarter is expected to be strong. However, the intensified commercial activations planned for Q4 will impact on profitability for the quarter. Overall, the group is confident of delivering a satisfactory performance for the full year,” he said.
Heineken’s nine-month net profit expanded 21.5% to RM221.8 million from RM182.52 million, with revenue rising 20% to RM1.64 billion from RM1.37 billion.
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