Malaysia: Carlsberg Brewery Malaysia sees 5.9% net profit growth in January-September this year

Carlsberg Brewery Malaysia Bhd’s net profit rose 5.9 per cent to RM222.0 million for the nine months ended September 30, 2019, the New Straits Times Online reported on November 26.

Group revenue grew 15.5 per cent to RM1.68 billion, Carlsberg Malaysia said in a statement.

The company said adjusting for the impact of the Sales and Services Tax regime which came into effect on September 1 last year, its organic revenue for the nine months grew 10.7 per cent.

Its net profit also grew organically by 8.3 per cent after excluding a non-recurring insurance compensation in its associate company Lion Brewery (Ceylon) PLC last year.

For the third quarter, the group’s net profit increased 6.5 per cent to RM69.2 million while revenue grew 10 per cent to RM542.2 million.

This was sustained by higher sales and premiumisation in both the Malaysia and Singapore operations, it said.

Newly-appointed managing director Stefano Clini said Carlsberg Malaysia had posted seventh consecutive corresponding quarter-on-quarter growth in top and bottom-line results.

“This is attributed to the higher sales performance driven by effective consumer-facing activities when we rolled out Carlsberg’s betterments promotions nationwide in July, and continued steady growth in Carlsberg Smooth Draught, Kronenbourg 1664 Blanc and Connor’s.”

The brewery applauds the government’s decision not to raise excise duties on beer in the recent 2020 Budget.

It expects to sustain the growth momentum for the rest of the year in anticipation of an early Chinese New Year in January next year.

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