Malaysia: Carlsberg Brewery Malaysia expects growth in revenue this year
Carlsberg Brewery Malaysia Bhd expects growth in revenue this year despite poor consumer sentiments and contraband alcohol affecting sales, The Edge reported on April 20.
Managing director Lars Lehmann said the group plans to drive growth through the introduction of a new revenue stream this year, and the fortification of its premium brands.
Carlsberg's premium products and Carlsberg Smooth Draught beer brand are gaining popularity, he told a press conference after the group's annual general meeting.
"We believe we can still grow the market. If you look at our topline, our premium brands are growing faster than the market at double digit due to the higher price, and our smooth draught is doing well in our mainstream segment market.
"So, we are looking at some opportunities despite a tough market environment. This is also the same for the Singapore market," he added.
For the financial year ended Dec 31, 2016, Carlsberg reported a 5% fall in net profit to RM204.98 million, from RM215.91 million in the previous year, though revenue grew 1% to RM1.68 billion from RM1.66 billion.
Net profit was impacted by the group's share of loss in an associate, one-off tax adjustments, and deferred tax expense.
Lehmann said the move by the authorities to step up enforcement is also expected to contribute to better performance.
Carlsberg's share price closed 10 sen or 0.67% lower at RM14.86 on April 20, giving the company a market capitalisation of RM4.54 billion.
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