KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd, which saw its net profit jump by 88.2% jump in net profit to RM71.41mil in the fourth quarter ended Dec 31, 2021 (4Q21), has proposed a single-tier final dividend of 46 sen per ordinary share.

       The dividend is equivalent to a RM140.6mil payment of the group’s FY21 net profit, to be paid on May 12, 2022, with the notice of entitlement to be announced in due course.

       The total declared and proposed dividend for the financial year ended Dec 31, 2022 (FY21) is 56 sen or equivalent to RM171.2mil, an increase of 40% versus FY20.

       Carlsberg’s revenue rose 14.8% to RM542.32mil in 4Q21 against RM472.53mil.

       For the full year, the brewer reported a net profit of RM201mil, up 23.9% as compared to RM162.2mil a year ago, on the back of a flat revenue of RM1.8bil.

       It said the higher earnings were mainly driven by cost optimisation, innovation and premiumisation initiatives.

       Carlsberg said its top-line was impacted by lower sales due to a 11-week brewery operations suspension and dine-in restrictions in both Malaysia and Singapore markets.

       In a statement, managing director Stefano Clini said: “We are satisfied with the group’s overall financial performance and people's health in 2021. Although the group’s top-line was impacted by the adverse operating environment, we delivered a strong bottom-line as our Malaysian operations resumed some normalcy. We are grateful that 100% eligible employees were inoculated with no severe Covid-19 positive cases and workplace clusters recorded since the pandemic started in 2020”.

       “The rigorous implementation of the SAIL’22 strategy delivered solid results behind innovation and premiumisation in both Malaysia and Singapore. Increased focus and diligence in executing ‘Fund the Journey’ initiatives and raw materials hedging enabled us to mitigate the cost escalation arising from the hike in commodities prices seen in 2021”, he added.

       Moving forward, the brewer is committed to deliver the highest quality and innovation, as well as driving premiumisation across its product portfolio that suits the needs and lifestyle of beer lovers.

       “With that, we are also excited to introduce new products in the coming months and also to launch promotions to help speed up the recovery in both on-and off-trade businesses”, Clini said.

       He added that 2022 would be another challenging year and was also mindful of the escalating commodity prices that would add further costs pressure and uncertainties.