(Updated)

Carlsberg Malaysia 4Q net profit rises by 88% to RM71m, declares 46 sen dividend

Carlsberg Malaysia 4Q net profit rises by 88% to RM71m, declares 46 sen dividend
-A +A

KUALA LUMPUR (Feb 17): Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) saw its net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) rise 88.21% to RM71.42 million from RM37.95 million in the same period of the previous year, underpinned by higher profit contributions from its operations in Malaysia.

Earnings per share surged to 23.36 sen from 12.41 sen.

In a Bursa Malaysia filing on Thursday (Feb 17), the beverage company said its quarterly revenue increased by 14.77% to RM542.33 million from RM472.54 million as the country entered the national recovery phase with more economic sectors reopened.

The group also declared a dividend of 46 sen per share to its shareholders, to be paid on May 12, 2022.

For full FY21, the group's net profit rose 23.93% to RM200.99 million from RM162.18 million in FY20 on the back of cost optimisation, innovation and premiumisation initiatives.

Annual revenue, on the other hand, fell slightly by 0.73% to RM1.78 billion from RM1.79 billion in FY20 as its top line was impacted by lower sales due to an 11-week suspension of its brewery operations and dine-in restrictions in both Malaysia and Singapore markets.

On a quarterly basis, the group's net profit almost tripled from RM25.98 million in 3QFY21 while revenue surged from RM349.29 million.

Commenting on the group's financial performance, Carlsberg Malaysia's managing director Stefano Clini said the group is satisfied with the overall financial performance in FY21 and highlighted that it delivered a strong bottom line as its Malaysian operations resumed some normalcy.

"Moving forward, the brewer is committed to delivering the highest quality and innovation, as well as driving premiumisation across its product portfolio that suits the needs and lifestyle of beer lovers.

"With that, we are also excited to introduce new products in the coming months and also to launch promotions to help speed up the recovery in both on- and off-trade businesses," Clini said.

Shares in Carlsberg Malaysia rose RM2.10 or 10.4% to RM22.30 on Thursday, valuing the beverage company at RM6.82 billion.

Lam Jian Wyn