Malaysia: Carlsberg Brewery Malaysia’s Q3 net profit triples on low base caused by Covid restrictions

Carlsberg Brewery Malaysia Bhd managing director Stefano Clini says the group will have to contend with challenges ahead despite announcing a stellar net profit in its recent quarter, The Star reported on November 11.

"We expect the outlook to remain challenging, given the global inflationary pressures, supply chain disruption and further costs pressures on the Group.

"This is coupled with the impact from the one-off prosperity tax (Cukai Makmur) on the Group’s earnings, which will continue to affect the earnings for the final quarter of the year," he said in a statement.

The brewer posted a net profit of RM76.39mil in the third quarter ended Sept 30, 2022, triple the net profit of the previous corresponding quarter as it rebounded from a low base caused by Covid restrictions.

Earnings per share in the quarter under review soared to 24.98 sen from 8.5 sen in the comparative quarter.

Revenue rose to RM571.63mil, 63.65% higher from a year ago.

Clini said the group's performance was bolstered by recovery in its Malaysia and Singapore markets following the lifting of Covid restrictions.

"Our brands also recorded strong growth across all categories contributed by our premiumisation and innovation as outlined in our SAIL’22 strategy," he added.

For the cumulative nine-month period for FY22, the group’s net profit rose 98.3% to RM256.9mil, while revenue increased 46.3% to RM1.8bil against the same period last year.

The board of directors declared an interim divided of 19 sen per share, bringing total dividend for the year to 63 sen per share.

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