Heineken Malaysia posts 29% jump in net profit for Q1

PETALING JAYA: Heineken Malaysia Bhd’s net profit for its first quarter ended March 31, 2021 rose 29.1% to RM73.54 million from RM56.96 million in the same quarter of the previous year, driven by revenue growth, cost management and subdued commercial activations.

In its Bursa disclosure, the group opined that the business environment will remain challenging for the rest of 2021.

It remains committed in delivering its priorities for 2021 with increased focus on safety of its people, right sizing the organisation and cost base, accelerate its digital agenda and leverage its strong business fundamentals

Heineken managing director Roland Bala commented that it will continue to navigate this crisis by adapting to the new market reality, ensuring the safety of our people, keeping a tight rein on cost and staying focused on our strategy to accelerate our business recovery.

“We remain cautious as the Covid-19 pandemic persists, with the imposition of another nationwide MCO from May 2021 and continued restrictions on social activities expected to impact businesses.

“While the group is hopeful that the National Immunisation Programme would foster gradual market recovery, the intermittent lockdowns and restrictive measures in the medium term is expected to dampen our recovery momentum,” he said in a statement.