Carlsberg 2Q profit jumps 29.5% to RM40m, pays 5 sen dividend

by **Cals** Tue 26 Aug 2014, 23:27

Business & Markets 2014

Written by Jeffrey Tan of theedgemalaysia.com

Tuesday, 26 August 2014 18:36

KUALA LUMPUR (Aug 26): Carlsberg Brewery Malaysia Bhd said its net profit jumped 29.5% to RM40.04 million in the second quarter ended June 30, 2014 (2QFY14), from RM30.91 million in the previous corresponding quarter, driven by growth in its revenue.

Revenue for the period grew 3.3% year-on-year to RM356.02 million from RM344.53 million.

The brewery firm also announced a single-tier interim dividend of 5 sen per ordinary share for the financial year ending Dec 31, 2014.

In a filing with Bursa Malaysia, Carlsberg said the growth in revenue was due to improved performance in its Singaporean operations and effective cost management.

For the six-month period (1HFY14), net profit recorded RM92.4 million versus RM81.4 million in the previous corresponding period, while revenue registered RM801.96 million from RM815.29 million.

Carlsberg said the better first half-year profit was underpinned by higher profits from the Malaysia and Singapore operations.

This came on improved price and product mix as well as efficiency improvements throughout the value chain.

On the outlook for the months ahead, Carlsberg Managing Director Henrik Juel Andersen says he expects consumer sentiment in Malaysia will remain soft, with cautious spending in view of the rising cost of living and the impending GST implementation.

“The market is also likely to be further hampered by slower growth in tourism numbers due to [the] recent [airline] tragedies,” he said.

But, he assured that Carlsberg would weather the challenges and positively impact the remaining quarters.