Analysts predict that Guinness Anchor Bhd will continue to gain market shares and dominate the Malaysian beer market, writes the Malaysian newspaper The Star.
The expectation is based on the company’s surprisingly good financial statements for the fourth quarter which ended the 30th of June. The brewery’s profits rose by 41 percent to 27.39 million Ringgit, while Carlsberg presented a 21 percent decrease in earnings – 12.88 million Ringgit in the second quarter of 2009.
However the head of Carlsberg’s activities in Malaysia, Søren Holm Jensen, doesn’t think the two financial statements can be compared. “Costs of both companies have been different. Most of our material costs were high in the first six months, but costs in the second half will be lower,” Søren Holm Jensen explains to The Star.
Maybank Investment is of the opinion that Guinness’ good results, is an indication that the company will continue to gain market shares.
“We are increasing the expectation for net profit by 5 percent for the year 2010 and 12 percent for 2011. It is based on the assumption that Guinness will succeed in increasing the sales volume by 3-5 percent a year,” says the analysis from Maybank.
