26 August, 2005

Malaysia: Carlsberg Malaysia reports for the first half of the year decreased pre-tax profit

Carlsberg Malaysia Breweryy announced on August 23 a 14.6 % year-on-year drop in first half group pre-tax profit to RM52.874 million (US$14 million) due to a decline in duty paid sales caused by a contraction of industry volume. This contraction arose from the important domestic price rise following the excise duty increase in September 2004, it said in a filing to Bursa Malaysia.

The lower duty-paid sales volume was mitigated by higher export sales, which pushed group revenue 10.9 %higher to RM571.193 million during the six months ended 30 June 2005.

The sales and marketing costs according to Carlsberg rose as a result of fierce competition in the market and investment in the Skol brand. It addred: "The highly intense competition and marketing investments in our brands are expected to continue and impact margins in the short term.”Carlsberg said the group will concentrate its efforts to increase its market share and expand its beer market leadership.

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