Danish beer is a popular drink in Malaysian and Singaporean bars and households by the looks of it.
By the end of June 2019 the Danish beer company Carlsberg Malaysia Group’s second quarterly net profit was 2.1 percent higher than at the same time last year. Translated to Euros it means a rise from approximately 13.78 million to 14.07 million.
Apart from successful promoting of the Danish-born beer, the company attributes “continuous premiumisation of [its] portfolio in both Malaysia and Singapore”, the Carlsberg Malaysia Group said in a stock exchange filing on 15 August 2019 according to The Edge Markets.
“This 6th consecutive quarter-on-quarter growth in top and bottom line was mainly contributed by higher sales in both Malaysia and Singapore,” the group states in a press release.
The goup does however face some challenges, as it has to compete with an illegal beer market in Malaysia.
“It significantly depresses the legitimate tax paying beer market,” the Malaysian-based group of the Danish beer company wrote in its press release.
Challenge on the Singaporean market are expected to strike later this year as an anticipated introduction of the European Trade Agreement in the fourth quarter of 2019 is likely to result in cheaper imports.
Carlsberg Malaysia Group will however not let the headwind break it and remains seeing the beer glass half full.