KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd recorded an 8.4% increase in net profit to RM87.6 million for the first quarter ended March 31, 2019 against RM80.82 million reported in the previous corresponding period, attributed to higher sales during Chinese New Year in Malaysia and Singapore.
Its revenue also jumped 20.3% to RM659.92 million from RM548.47 million.
Carlsberg has proposed to declare an interim dividend of 21.5 sen per share, which represents a payout ratio of 75% of its consolidated net profit.
Moving forward, the group expects consumer sentiment to remain dampened amid uncertainty in the macroeconomic situation this year.
“The continued presence of contraband beer remains an issue in the Malaysian market that significantly depresses the legitimate tax paying beer market,” it said in a filing with Bursa Malaysia.
“In spite of the challenging market conditions as well as intense competition, we will continue our focus on product innovations, quality and consumer promotions as well as execution of our SAIL’22 strategy while keeping costs under control to deliver a satisfactory performance in 2019,” it added.