KUALA LUMPUR: Heineken Malaysia Bhd’s net profit rose more than threefold to RM86.07mil in the second quarter ended June 30, from RM25.27mil a year ago on higher revenue.
Heineken Malaysia Bhd's net profit jumped over three times in the second quarter ended June 30, 2022 (2QFY22) as its revenue continues to recover following the reopening of the economy and international borders.
Heineken Malaysia Bhd cautioned that cost escalation is not over and may hit the company hard in 2023. “We announced price increases in August, which were to recover some cost increases. As we move into the new year, the impact of cost escalation will hit us very much,” its managing director Roland Bala told a media briefing on the company's financial performance for the first half ended June 30, 2022 (1HFY22) on Friday (Aug 12).