$CARLSBG / 2836 (CARLSBERG BREWERY MALAYSIA BERHAD): Chinese New Year Sales

Here are some updates on Q1FY24 performance: -

📌 YoY revenue increased by 9.9% to RM725.8 million.
📌 Malaysia remains the primary revenue contributor, accounting for 74.6% of the total revenue. Malaysian revenue surged by 15.4% to RM541.4 million, attributed to an extended selling period before the 2024 Chinese New Year and increased trade purchases in March ahead of price hikes.
📌 Singapore revenue declined by 3.4% to RM184.4 million, impacted by the loss of Asahi sales but partially offset by higher Chinese New Year volume.
📌 The company's share of profit in its associated company, Lion Brewery (Ceylon), soared by 134.8% to RM7.6 million due to improved business performance and the strengthening of the Sri Lanka Rupee.
📌 Net profit increased by 3.4% to RM87.9 million, driven by higher profits in Malaysia and an increase in share profit from Lion Brewery.
📌 Dividend of 22 sen has declare in this quarter.
📌 Management expects trade volumes from this period to rebalance in the second quarter.
📌 The company remains committed to its Accelerate SAIL strategic priorities, focusing on enhancing its premium portfolio and executing brewery transformation. However, it remains cautious due to uncertain global economic conditions, including inflationary pressures, high interest rates affecting consumer spending, and currency fluctuations.