Malaysia: Carlsberg's 3Q net profit up 9.96% to RM30.31million
Malaysia Carlsberg Brewery announced a 9.96% boost in their net profit to RM30.31 million for the third quarter ended Sept 30, 2005, from RM27.56 million a year earlier, owing to an increase in sales volume before the announcement of Budget 2006.
Carlsberg announced on November 24 its revenue rose 19.17% from RM262.57 million to RM312.93 million due to the increase in sales as a result of heavy pre-budget speculation. On a cumulative nine-month period, it posted a net profit of RM73.63 million, 4.15% lower than RM76.82 million achieved in the previous corresponding period.
Carlsberg stated that the decline was caused a reduction in duty-paid sales because of a contraction of the industry volume that was partially mitigated by increase in export sales and pre-budget speculation. It said sales and marketing expenditure were maintained at a higher level because of investment in the Skol brand and as a result of intense competition in the market.
The brewery expected the rest of the year to remain challenging. It announced that excise duty increase for locally manufactured beer and stout products would adversely affect the growth of the beer and stout markets, which have not recovered from the previous year’s increase.
Moreover, it said continued availability of low priced imported beers and smuggled beer and stout products would also negatively impact the market. Carlsberg said the highly intense competition and marketing investments in its brands were expected to put pressure on its margins for the short term.
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