MALAYSIAN OPERATIONS AND REGIONAL STRATEGY CONTINUES TO SUPPORT STRONG GROWTH IN REVENUE AND EARNINGS
FINAL AND SPECIAL DIVIDENDS DECLARED

SHAH ALAM, February 24th, 2011 – Carlsberg Malaysia announced a 4th quarter 2010 group profit after tax of RM30.8 million for the 3 months ended 31 st December 2010. This represents a significant increase of 51.2 per cent compared to profit after tax of RM20.3 million for the corresponding quarter in the previous year.

During the quarter under review, Group Revenue was RM326.1 million or 8.5 per cent higher than the RM300.4 million achieved in the previous year.

The growth in revenue was mainly due to higher sales during the year end season especially in the modern off trade channels in both the Malaysian and Singapore markets.

Earnings per share for the quarter more than doubled to 10.0 sen versus 4.2 sen a year ago.

On a full year’s basis, the Group’s profit after tax of RM134.1 million rose by 74.8 per cent from RM76.7 million in 2009. This was achieved with group revenue of RM1.4 billion which was 30.9 per cent higher than the group revenue of RM1.1 billion achieved in the previous year.

Earnings per share for the year grew to 43.6 sen per share compared to 24.9 sen per share a year ago.

The Company announced a final dividend of 7.5 sen per ordinary share of 50 sen each less tax (2009 – 7.5 sen per RM0.50 share less tax) and a special final dividend of 43.0 sen per ordinary share of 50 sen each less tax (2009 – 10.5 sen per RM0.50 share less tax) for the year ended 31 st December 2010.

Soren Ravn, Managing Director commented “We are very pleased with our 2010 Group performance which achieved the highest earnings level in the last 10 years. Our strategic decision in 2009 to invest in our Singapore subsidiary had delivered superb results where the synergies arising contributed substantially to our Group profit after tax. In this connection, the Board after considering the Group’s funding requirements, had recommended a significantly higher special dividend in addition to the final dividend.

The Group benefitted from the successful 2010 Chinese New Year festive campaign and the equally successful execution of the World Cup campaign where significant increases in Carlsberg sales were recorded in both Malaysia and Singapore. Our flagship Carlsberg brand remains the No 1 beer brand in Malaysia as we continue to focus on driving its sales for profitable growth in the domestic market.

We continued to outperform in the super premium segment through our subsidiary Luen Heng F & B Sdn Bhd. The Hoegaarden brand in our portfolio of premium brands was the fastest growing super premium beer brand in Malaysia. Carlsberg Malaysia now has 7 out of the world’s top international beer brands in its Group portfolio.

Our associate company, Lion Brewery Ceylon PLC has also outperformed and contributed to the Group’s earnings.”

He further commented “During the year under review, Carlsberg Malaysia launched Kronenbourg 1664, an imported premium French beer. We were also appointed as the sole distributor of imported Asahi Super Dry beer, the top selling Japanese beer brand. Both these brands are expected to establish inroads in the premium beer segment in the near future”

For the 2011 outlook, the Malaysian Government’s Economic Transformation Programme (ETP) is expected to put in place action plans focused on the tourism, distributive trade and higher income generation to drive the economic growth targets. In this respect, the Malaysian beer market is expected to grow moderately. With good performance in both Malaysia and Singapore, we expect to 2011 revenue and earnings to be consistent.”