KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd saw its net profit fall 30.2% to RM43.61 million or 14.26 sen per share in the third quarter ended Sept 30, 2016 (3QFY16), from RM62.49 million or 20.44 sen per share a year ago, on higher operating expenses and share of loss of equity accounted associate. Revenue fell 3% to RM393.31 million in 3QFY16, from RM405.66 million in a year earlier (3QFY15).
In a filing with Bursa Malaysia today, Carlsberg said its net profit was adversely impacted by the loss of sales and write down of assets from associate company Lion Brewery (Ceylon) Ltd (LBCL), Sri Lanka, due to disastrous floods in May and the divestment of Luen Heng F&B Sdn Bhd in August 2015.
For the nine-month period (9MFY16), Carlsberg’s net profit rose 11.65% to RM157.91 million or 51.65 sen per share, from RM141.43 million or 46.26 sen per share in 9MFY15.
Revenue was flat at RM1.24 billion in 9MFY16. Carlsberg managing director Lars Lehmann said the group’s third-quarter performance was negatively impacted by floods in Sri Lanka.
“LBCL, which the group owns 25%, had its production shut down since May and only resumed production on Nov 23. Our Sri Lankan colleagues in LBCL have put in extraordinary efforts in getting the affected brewery operational again,” he said.
“We anticipate the remaining quarter to be challenging, partly due to the continued business disruption in LBCL, Sri Lanka until Nov 23, and weak Malaysian consumer sentiment,” Lehmann added.
Shares in Carlsberg closed 14 sen or 1% lower at RM14 today, with 35,200 shares traded, for a market capitalisation of RM4.31 billion.
