Heineken posts RM65m profit in Q3

PETALING JAYA: Heineken Malaysia Bhd posted a net profit of RM65.87 million for the third quarter ended Sept 30, 2017, (Q3) with RM509.6 million in revenue.
The company previously announced the change of financial year-end from June 30 to Dec 31. As such, there are no comparative figures for the preceding year corresponding periods.
In a statement today, the group said its revenue during the quarter grew by 32.4% and profit before tax increased 26.4%, benefiting from easier comparatives in Q3’16 when the market was still recovering from the excise increase in March 2016 and subsequent price increase in July 2016.
Heineken said its revenue in the quarter also received a boost from the cider category, with the successful launch of its new mainstream cider brand Apple Fox and the commencement of the sale of locally made Strongbow Apple Ciders.
For the nine months period, Heineken registered a net profit of RM176.42 million. Its revenue increased by 1.1% to RM1.31 billion from RM1.30 billion a year ago.
Commenting on the outlook, its managing director Hans Essaadi said the group remains committed to the long-term growth of its business with a focus on strengthening commercial strategies and execution, as well as improving efficiencies through cost optimisation measures.
Heineken closed 3.78% lower to RM17.32 today with 406,900 shares traded.