CARLSBERG Brewery Malaysia Bhd reported a 19.8% increase in net profit for the third quarter of 2024 (3Q24), reaching RM90.96 million, up from RM75.94 million a year ago.

Revenue grew 8.3% to RM555.93 million, with Malaysia’s revenue rising 14.2% to RM413.6 million due to higher sales volumes and prices.

However, revenue from Singapore fell 6% to RM142.4 million due to unfavorable premium and channel mix.

The company declared a third interim dividend of 23 sen per share, raising its year-to-date dividend to 65 sen, compared to 62 sen last year.

For the first nine months of FY2024, net profit grew 3.6% to RM258.29 million, while revenue increased 6.5% to RM1.79 billion, driven by strong performance in Malaysia despite challenges in Singapore.

Carlsberg has completed the installation of a new canning line and upgraded its filtration plant as part of its brewery transformation.

The company remains optimistic about stronger local economic growth and year-end festivities boosting demand.

 Moving forward, Carlsberg will continue enhancing its premium portfolio and focusing on cost management to sustain growth.

Shares closed at RM19.52 today, down 16 sen, with a market capitalisation of RM5.97 billion. — TMR