Carlsberg Brewery Malaysia Bhd’s net profit surged 139.3% to RM30.8mil in the second quarter ended June 30, compared with RM12.9mil posted in the same period last year.
In a filing with Bursa Malaysia, Carlsberg Malaysia said the “significant profit improvement” were due to the acquisition of Carlsberg Singapore, higher domestic sales and higher profit contribution from associate company Lion Brewery (Ceylon) plc.
Its revenue advanced 56.8% to RM334.2mil, driven by higher export sales, the World Cup season and better sales in in hypermarkets and supermarkets in both the Malaysia and Singapore.
Soren Ravn … ‘We expect to continue on a positive track in terms of revenue and earnings growth for the rest of the year.’
Its earnings per share for the quarter grew to 10.08 sen versus 4.21 sen a year ago. The company proposed to declare an interim dividend of 5 sen per share and an interim special dividend of 2.5 sen.
For the first six-month period, its net profit doubled to RM68.7mil, from the RM34.3mil posted in the same period last year.
Revenue rose 41.7% to RM712.6mil, compared to RM503mil in the corresponding period last year.
Managing director Soren Ravn said: “We are very pleased with our half-year group performance, in particular, the RM28.7mil profit before tax contribution from Carlsberg Singapore.” He said the company also benefited from its successful 2010 Chinese New Year festive campaign and the equally successful execution of the World Cup campaign where significant increases in sales were recorded in both Malaysia and Singapore.
“We expect the domestic beer market to grow moderately this year as the Malaysian economic climate improves.
“With good performance in both Malaysia and Singapore, we expect to continue on a positive track in terms of revenue and earnings growth for the rest of the year,” Ravn said.