Malaysia: Carlsberg Brewery Malaysia’s net profit falls 44% last year

Carlsberg Brewery Malaysia Bhd said net profit fell 45% in the fourth quarter to RM37.9 mln as Covid-19 restrictions in Malaysia and Singapore to curb the pandemic impacted its business, The Star Online reported on February 18.

Net profit for the full year ended Dec 31 fell 44% to RM162 mln on revenue of RM1.8 bln.

The group has proposed a total payout of 40 sen a share FY20, or 75% of the group's net profit.

“The COVID-19 pandemic continues to impact our business performance, which has led to a challenging start to 2021," managing Director Stefano Clini said in a statement on February 18.

He said the group anticipates a muted recovery in on- trade sales due to the re-imposition of the movement control order (MCO).

“We are however hopeful that the national COVID-19 vaccination plans that are expected to start in Malaysia from end February and have already started in Singapore will curtail COVID-19 infections and lead to better economic recovery in the second half of 2021,” Clini said.

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