KUALA LUMPUR (Aug 12): Heineken Malaysia Bhd's net profit jumped over three times in the second quarter ended June 30, 2022 (2QFY22) as its revenue continues to recover following the reopening of the economy and international borders.
The growth in net profit, which surged to RM86.07 million in 2QFY22 from RM25.27 million a year ago, was also supported by improvement in product mix, said the beer producer in a filing with Bursa Malaysia. Revenue grew 84% year-on-year to RM644.58 million from RM349.42 million.
The group declared an interim dividend of 40 sen per share, to be paid on Nov 11, for the first half of this year (1HFY22), more than double its 15 sen payout in the same period last year.
Cumulatively, the group recorded a net profit of RM199.46 million for 1HFY22, double the RM98.81 million it recorded in 1HFY21, as revenue rose 50% to RM1.34 billion from RM897.16 million.
Commenting on the group’s outlook, Heineken’s managing director Roland Bala said management expects continued pressure from global supply chain disruptions, rising input cost, weakening ringgit and rising inflation, which will impact consumer purchasing power.
“The group will remain agile in responding to the volatile business environment and the new market reality with focus on delivering our EverGreen strategy to future-proof the business and deliver sustainable growth,” he said.
He also said illicit alcohol remains a concern for Heineken.
“The group welcomes the stance taken by the government not to increase excise duties on beers as any hike in excise rates will drive greater demand for illicit alcohol. The group will remain committed to supporting the government to stamp out illicit trade through holistic efforts including strengthening enforcement and raising greater awareness in the market,” he said.
Heineken shares gained two sen or 0.1% to close at RM24.40, giving the group a market capitalisation of RM7.37 billion.