106% increase in profit for Carlsberg
Filed Under (Business News) by Webmaster on 25-02-2010
Tagged Under : carlsberg
Carlsberg Brewery Malaysia Bhd recorded a 106.2% jump in its bottomline to RM19.8mil for its fourth quarter ended Dec 31 against the previous corresponding period due to the two-month result consolidation of its unit, Carlsberg Singapore Ltd.
Revenue for the period also increased to RM300.4mil from RM205.2mil before.
In notes accompanying its financial results yesterday, Carlsberg said the growth was also contributed by the fall of pre-budget trade stock in the fourth quarter compared with a year ago.
“The result consolidation of Carlsberg Singapore and the positive contribution from Luen Heng F&B Sdn Bhd have resulted in better performance,” said the company.
Carlsberg Malaysia, which is a 51%-owned unit of Denmark-based Carlberg AS, acquired Carlsberg Singapore for RM370mil in the fourth quarter last year.
For the year ended Dec 31 (FY09), its net profit slipped to RM75.9mil against RM76.1mil in FY08 while revenue rose 8% to RM1.04bil from RM960mil previously.
OSK Research analyst Vi Ming Lim told StarBiz Carlsberg’s FY09 net profit was within expectation as it had spent a lot on marketing activities to regain its market share, and on its pre-Chinese New Year promotion.
“In the fourth quarter, the company spent 25% more on marketing or about RM54mil compared with the previous corresponding period.
“Also, Carlsberg had reduced interest income due to lower cash pile after the Carlsberg Singapore acquisition,” he said.
Vi said Carlsberg’s outlook this year would be positive via more consumption recorded in the recent Chinese New Year celebration and the World Cup football league.
