E-Malt.com News article: Malaysia: Carlsberg Malaysia posts 151.2% jump in Q1 pre-tax profit

Carlsberg Brewery Malaysia Berhad has posted a 151.2 per cent jump in first quarter pre-tax profit, pushed by brisk domestic sales, particularly in the Chinese New Year festive period, Asia Pulse reported April 29.

Profit for the three months ended 31 March 2008 climbed to RM35.491 million (US$11.1 million) from RM14.126 million for the previous corresponding period.

Revenue rose 14.4 per cent to RM289.433 million from RM252.990 million previously, the brewer said in a filing to Bursa Malaysia on April 25.

Earnings per share surged to 8.67 sen from 3.48 sen a year earlier.

"The better performance was mainly due to higher domestic sales particularly during the Chinese New Year festive period," Carlsberg said.

"Gross margins were higher mainly due to more favourable product mix and better cost efficiencies."

The group expects 2008 to be a satisfactory year.

It said the strong sales and profit growth in the first quarter of 2008 was an encouraging start to the year.

Carlsberg however expects escalating prices for raw and packaging materials to exert downward pressure on the group's profit margin.

It hopes to cushion the impact of rising costs through improved price/ mix as well as operational cost effectiveness.

"Sustainable growth for the rest of the year is dependent on no further increases in duties for beer and stout products as well as effective enforcement to curb smuggled and counterfeit beer and stout products in the country," it said.


30 April, 2008