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CASTLE MALTING NEWS in partnership with www.e-malt.com
23 February, 2020



Brewing news Malaysia: Heineken Malaysia’s 2019 net profit up 10.8%

Heineken Malaysia Bhd’s net profit declined by 8.9% to RM91.17 million in its fourth quarter ended Dec 31, 2019 from RM100 million reported in the previous corresponding quarter, attributed to higher commercial spending on new product launches and earlier marketing spend for Chinese New Year, The Sun Daily reported on February 23.

Revenue for the quarter stood at RM680 million, a 2.7% increase from RM662.28 million registered previously.

However, for the full financial year, Heineken recorded a net profit of RM312.97 million, a 10.8% improvement from RM282.52 million reported for its previous financial year.

Revenue for the year stood at RM2.32 billion, a 14.3% increase from RM2.03 billion registered previously, driven by robust sales performance across all core brands and new product launches.

For the year, the group has declared a final dividend of 66 sen per share, subject to the approval of its shareholders in its upcoming annual general meeting.

Including the final dividend, the total dividend payout for FY19 ended Dec 31, is 108 sen a share.

With regard to its prospects for the year ahead, the group expects the business to remain challenging amid uncertainties in economic conditions, continuous competitive pressures and contraband beer in the market.

Heineken Malaysia’s managing director Roland Bala (pix) stated that the brewer has yet to see any impact from the Covid-19 outbreak.

“Right now it is still too early to assess the impact of the outbreak, but we are still looking out and remain cautious of the impact,“ he told the media at the group’s FY19 financial briefing.

Roland also stated that the group’s e-commerce platform has been performing well since its introduction in end-2018.

“This year, we are looking to expand the initiative further to other major cities in Malaysia and we are currently beefing up the logistics do so,“ he said, without elaborating further.

As for the upcoming price increase of selected products on March 1, Roland clarified that it will only affect its keg format, for which prices will increase between 4-6%.

“The price increase is an inevitable part as cost of doing business such as salary and raw material price increase, nonetheless we are to lessen the impact to our consumers, hence it will only affect our keg format,” he said.





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