Carlsberg Brewery Malaysia Berhad saw its revenue decline by 11.8% to RM506.7 million and reported a flat net profit of RM88.2 million for the second quarter ended 30 June 2023 (Q2FY23) versus the same quarter last year as a result of a weaker trading environment.
The Group’s attributed the lower performance to the higher base observed in Q2FY22 driven by the higher trade demand ahead of the price increase in July 2022, coupled with the post-Omicron recovery and pent-up consumer demand. The Group’s earnings per share (EPS) for Q2FY23 were 28.86 sen, compared to 29.09 sen in Q2FY22.
The Board announces an interim dividend of 22 sen per share for the second quarter ended 30 June 2023 (Q2FY23). This brings the total first half interim dividend per share of 43 sen.
For the cumulative six months ended 30 June 2023 (1HFY23), the Group’s revenue decreased by 5.0% to RM1.17 billion, while its net profit declined by 4.0% to RM173.3 million against the same period last year. The subdued performance is due to the earlier timing and shorter sales period for the Chinese New Year (CNY) celebrations this year as outlined in the Q1FY23 announcement as well as the weaker consumer sentiment. Earnings were also impacted by higher input costs and increased marketing expenses.
Commenting on the results, Carlsberg Malaysia’s Managing Director Stefano Clini elaborated: “Our second-quarter results were mainly affected by a decline in consumer off-take, driven by growing concerns over the escalating cost of living, especially the rising food prices amidst the backdrop of global economic uncertainty. Additionally, consumer sentiment has been impacted by the higher interest rates in Malaysia and Singapore, which further exacerbated the weak consumer spending during this period,
