Malaysia: Carlsberg Brewery Malaysia sees 2024 revenue increase by 5.1%

Carlsberg Brewery Malaysia Bhd has reported a 5.1% increase in revenue to RM2.4 billion and a 3% growth in net profit to RM337.1 million for the financial year ended Dec 31, 2024 (FY24), attributing the jump to the timing of the Chinese New Year holiday (CNY) being both later and earlier in 2024 and 2025 respectively.

For the fourth quarter ended Dec 31, 2024 (4Q24), the group’s revenue grew by 1.2% to RM587.2 million, while its net profit grew by 1% to RM78.8 million, fuelled by strong revenue growth in Malaysia of 6.5% due to the higher trade loading in December 2024 to cater to the earlier timing of CNY in January 2025.

The group recommends a final dividend of 35 sen per share, subject to the shareholders’ approval at the upcoming 55th Annual General Meeting. Upon approval, this will bring the total declared dividend for FY24 to 100 sen per share.

Looking ahead, the group is laying the groundwork to navigate a challenging macroeconomic environment marked by continued inflationary pressures, high interest rates, and cautious consumer sentiment.