CARLSBERG MALAYSIA ON TRACK TO DELIVER RECORD PERFORMANCE REGIONAL STRATEGY CONTINUES TO PAY OFF TO SUPPORT
36% GROWTH IN REVENUE AND 57% GROWTH IN PROFIT IN THIRD QUARTER 2010

SHAH ALAM, November 11th, 2010 – Carlsberg Malaysia announced a 3rd quarter 2010 group profit after tax of RM34.1 million for the 3 months ended 30th September 2010, an improvement of 57.5 per cent over the corresponding quarter in the previous year.

Revenue of RM329.5 million for the same quarter was 36.1 per cent higher than the quarter in the previous year. The growth in revenue was mainly due to higher sales of the Carlsberg brand post World Cup season in both Malaysia and Singapore.

Earnings per share for the quarter grew to 11.15 sen versus 7.12 sen a year ago.

On a 9 months to 30th September 2010 basis, the Group’s profit after tax of RM103.4 million rose by 83.3 per cent with revenue rising to RM1,042.1 million or up by 39.9 per cent. Earnings per share for the 9 months was 33.61 sen per share compared to 18.33 sen per share a year ago.

“We are very pleased with our Group performance for the quarter and the year to date which is on track to deliver a record 2010 result for Carlsberg Malaysia. The Group had benefitted from the successful 2010 Chinese New Year festive campaign, the World Cup campaign and the performance of the Carlsberg brand where significant increases in sales were recorded in both Malaysia and Singapore. Our synergies arising from the acquisition of Carlsberg Singapore are being delivered. We continued to outperform in the super premium portfolio in Malaysia where Hoegaarden is now the No. 1 imported beer brand in Malaysia and other brands such as Erdinger and Asahi beers are showing promising potentials. Our associate company, Lion Brewery Ceylon PLC have also outperformed and have contributed to the Group’s earnings. We continue to maintain our market share in the domestic beer industry with a focus on driving profitability. Our flagship Carlsberg brand still remains the undisputed No 1 beer brand in Malaysia” commented Mr Soren Ravn, Managing Director.

He further commented “We expect the domestic beer market to grow moderately in 2010 with the excise duty being maintained and as the Malaysian economic climate improves. With continued good performance of our subsidiaries in Malaysia and Singapore, we expect to maintain our current improvement in revenue and earnings for the rest of the year.”