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,Managing director Stefano Clini (pic) said the profitability for the quarter was boosted by the continuous improvement in cost control in its operations.

KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd’s net profit jumped more than three times to RM37.14mil in the second quarter ended June 30, 2021 from RM10.64mil a year ago, driven by higher revenue and the absence of bill-of-demand of RM6.4mil paid last year.

In a statement issued yesterday, managing director Stefano Clini said the profitability for the quarter was boosted by the continuous improvement in cost control in its operations.

The group’s revenue increased 21.6% to RM349.21mil in the quarter from RM287.27mil in the corresponding period a year ago, supported by a rise in revenue from both Malaysia and Singapore operations, which saw better sales compared with the same quarter last year.

“In Malaysia, the easing of restrictions in February 2021 during the second round of movement control order allowing dine-in food and beverage operations, coupled with new product and packaging launches, helped deliver growth in the second quarter,” he added.

For its Singapore operations, sales grew 33.3% to RM105.6mil as restrictions eased in the city-state.

It is important to note that under the full movement control order in Malaysia, the brewery halted its operations on June 2 and it had recently resumed operations on Aug 16.Carlsberg brewery production tour

“The full suspension of brewery operations took a toll on revenue for the quarter, which was partially mitigated by the group’s cost controls,” he said.

For the third quarter, Clini expects earnings to be weighed down due to the suspension of the 11-week operations due to the lockdown restrictions, saying that impact is only partially evident in the first quarter as the suspension was imposed from the last month of the quarter.

“It is not going to be a fantastic quarter (third quarter),” he said in a media briefing.

He explained the prolonged suspension in the country has had a major impact on its business operations since June as it is not able to adequately satisfy domestic market demand, maintain its regular supply to the Singapore market as well as meet export demand from regional and other foreign markets.

Meanwhile, Clini confided that the lockdown in the country has also led to the proliferation of illicit beer trade, which would result in further tax losses, serious health risks and severe impact to its export revenue and other associated taxes.

“There are risks to our position as an international investor if the group’s regional customers permanently switch to alternative sources from other countries,” he pointed out.


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