SHAH ALAM, August 26th, 2014 – Carlsberg Malaysia recorded a strong growth in profit after tax to RM 40.4 million for the quarter ended 30 June 2014; an increase of 28.7 percent versus same quarter last year. The increase was driven by a growth in revenue of 3.3 percent, improved performance in its Singaporean operations and effective cost management.
For the six months ended 30th June 2014, Carlsberg Malaysia recorded a growth of 13.6 percent in profit after tax to RM 93.9 million. The Group’s half year revenue of RM 802.0 million was 1.6 percent lower than the corresponding period last year.
Profit from operations for Singapore increased by 30.7 percent to RM 24.9 million whilst Malaysian operations rose by 5.9 percent to RM 94.1 million. The increase in first half-year profit from both markets was attributed to improved price and product mix as well as efficiency improvements throughout the value chain.
The Group announced a single tier interim dividend of 5 sen per ordinary share of 50 sen for the financial year ending 31 st December 2014.
Carlsberg Malaysia Managing Director, Henrik Juel Andersen says: “It is satisfying that we have been able to deliver a strong quarter performance despite the current macro-economic challenges in Malaysia, which have resulted in lower disposable consumer spending power and hence a softening of demand for beer. Also, during the year we have had to absorb the adverse impact of significant additional taxes imposed by the Malaysian and Singaporean governments.
“The efforts we have made over the past nine months to turn-around the Singaporean operations and build a stronger foundation for future growth are starting to pay-off. Revenue and profit from Singapore grew strongly for the quarter under review. The stock rationalization programme which ended in Q1 has improved our supply chain efficiency and also made our 2 products in Singapore amongst the freshest in the market. This, coupled with the addition of Asahi Super Dry and other alcoholic brands to our portfolio through the acquisition of MayBev, has further boosted our performance in Singapore,” he said.
Commenting on the outlook of the months ahead, Andersen added, “We anticipate consumer sentiment in Malaysia will remain soft with cautious spending in view of the rising cost of living and forthcoming GST implementation. The market is also likely to be further hampered by slower growth in tourism numbers due to recent tragedies. However, we are confident that our effective business model, dedicated staff and strong portfolio spearheaded by our flagship brand Carlsberg, will enable us to weather the challenges and positively impact the remaining quarters.
“Carlsberg is the proud sponsor of the Barclays Premier League for the second year and our engagement with football will be stronger than ever. Furthermore, our customers and consumers can look forward to a range of exciting and rewarding marketing activities for our other portfolio brands e.g. Somersby Apple and Pear cider, Asahi Super Dry and Kronenbourg 1664”, he added.
Last week, the brewer won the first prize in the prestigious Edge Billion Ringgit Club (BRC) corporate awards for the Best Corporate Responsibility (CR) initiatives. Amongst 178 of 900 companies listed on Bursa Malaysia with a market capitalization of more than RM 1 billion, Carlsberg Malaysia topped the list for the best CR initiatives