Carlsberg 2Q net profit more than double to RM89mil, declares 22 sen dividend
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KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd's net profit more than doubled to RM88.95mil in the second quarter ended June 30 (2Q) compared with RM37.14mil a year earlier contributed by higher profits in both Malaysia and Singapore.
The brewer’s revenue jumped 64.4% to RM574.23mil against RM349.2mil a year prior as sales recovered from the disruptions experienced last year when the group’s Malaysia operations were suspended for 75 days from May 12, 2021, until Aug 15, 2021.
Earnings per share for the quarter stood at 29.09 sen versus 12.15 sen posted a year ago.
Its board of directors announced a second interim dividend of 22 sen per share, to be payable on Sept 15.
On the back of this satisfactory performance, Carlsberg’s board of directors announced a second interim dividend of 22 sen per share, bringing the total dividend for the year to 44 sen per share
Moving forward, the board continues its approach of declaring dividends taking into consideration of the group’s performance, the business environment and other circumstances.
“We are pleased to continue delivering a satisfactory top and bottom line growth for Q2 in both Malaysia and Singapore operations across all brand portfolios of mainstream, premium and alcohol-free categories and this is a testament to the effectiveness of our strategy implementation,” managing director Stefano Clini said in a statement.,
On prospects, Clini said the group remained cautious due to the ongoing disruptions in the global supply chain and escalating commodity prices, which have been further exacerbated by the Ukraine-Russia crisis.
He added that the rising global inflationary pressures would affect consumer sentiment and their disposable income.
For the first half ended June 30, the group’s net profit increased by 74.3% to RM180.5mil as revenue grew 39.4% to RM1.2bil against the same period last year.
Carlsberg said the solid results were a sign of stable recovery and sustained growth momentum, further amplified by our continuous focus on strategic initiatives, as well as strong value management initiatives to protect its margins.
“The effects of the one-off prosperity tax (Cukai Makmur) announced in the 2022 Budget, which impacted the group’s earnings in Q2FY22, will continue to be felt in the remaining quarters of this financial year,” it said.
Carlsberg said the RM110mil capital expenditure (capex) for the upgrade works of its Shah Alam brewery is well on track.
Following the completion of the upgrade, the production facility will contribute towards a lower climate footprint and deliver greater flexibility in packaging innovations.