KUALA LUMPUR (April 19): Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) is most concerned about consumer sentiment, which is being weighed by worries about tightening disposable income and uncertainties about the future, and how it would impact demand for the group's products, according to managing director Stefano Clini.
Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) is likely to see weaker earnings growth this year, as the low base effect dissipates. The brewer’s annual net profit surged 57.7% to RM317.05 million in FY2022 from RM200.99 million in the previous year, driven by top-line growth and higher profits in both its Malaysia and Singapore operations, combined with a higher share of profit from Lion Brewery (Ceylon) plc (LBCP) in Sri Lanka. Annual revenue grew 36.1% year-on-year to RM2.41 billion from RM1.77 billion, owing to a lower base due to various lockdown restrictions previously, including the suspension of brewery operations from June 2 to Aug 15, 2021.
Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) reported a 15.8% net profit drop to RM60.12 million in its fourth quarter ended Dec 31, 2022 (4QFY2022) from RM71.42 million in the same quarter last year, as its operations in Malaysia recorded lower profit, further weighed by its provision for the Cukai Makmur or Prosperity Tax.
Carlsberg Brewery Malaysia Bhd's net profit for the third quarter ended Sept 30, 2022 climbed almost three-fold to RM76.39 million from RM25.98 million in the same period last year, contributed by higher contributions from both Malaysian and Singaporean operations, but they were partly offset by a one-off prosperity tax.