PETALING JAYA: Carlsberg Brewery Malaysia Bhd’s net profit for the third quarter ended Sept 30 fell 41.3% to RM40.63 million, from RM69.18 million previously, due to lower sales from the on-trade sector and limited promotions to drive consumption amid the Covid-19 countermeasures taken in Malaysia and Singapore.
Revenue for the period stood at RM435.32 million, a 19.7% decline from RM542.22 million previously.
In the first three quarters of 2020, the group posted a net profit of RM124.23 million, a 44% drop from RM222.03 million in the same period of the previous year.
Meanwhile, revenue fell by 22% to RM1.31 billion, from RM1.68 billion previously. The board’s decision to suspend quarterly dividend payments for the financial year ending Dec 31, 2020 remains for third-quarter 2020.
The group told the local bourse that it has adopted a cautious outlook for the last quarter of the year due to the pandemic and the measures to curb it.
Carlsberg managing director Stefano Clini commented that the recent spike in Covid-19 cases and the subsequent stricter lockdown measures imposed in most states in Malaysia have taken another toll on on-trade consumption which had been on the path towards a fragile recovery in the third quarter.
“In these uncertain times, we will continue to focus on our strategic priorities while working closely with our business partners and distributors to be highly agile and adaptable within a volatile operating environment,” he said.
