Carlsberg earnings triple to Rm76.4mil in 3Q

KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd says the group will have to contend with challenges ahead despite announcing a stellar net profit in its recent quarter.

“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 earnings for the final quarter of the year,” said managing director Stefano Clini in a statement.

The brewer posted a net profit of Rm76.39mil in the third quarter (3Q) ended Sept 30, 2022, almost triple the net profit of the previous corresponding quarter, as it rebounded from a low base caused by Covid19 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 of financial year 2022, 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.

On the back of this satisfactory performance, the board has announced a third interim dividend of 19 sen per share, bringing the total dividend for the year to 63 sen per share.

Looking ahead, the board will continue its approach of assessing dividends after taking into consideration the group’s performance, its capital expenditure and business needs as well as the overall business environment.