However, Group profit before tax (“PBT”) grew 6.3% driven by effective Chinese New Year festive campaigns executed in January 2020 and February 2020, ahead of the price adjustment implemented on selected products effective 1 March 2020, as well as the more efficient commercial spend during the quarter.
Compared with the preceding quarter, Group revenue and PBT decreased by 24% and 37% respectively, principally due to:
- Higher sales in the previous quarter driven by a successful year-end festive season
- Early sell-in for Chinese New Year this year; and
- Lower sales in March 2020 due to the suspension of operations of the brewery effective 18 March 2020.
Net cash from operating activities as at 31 March 2020 dropped significantly, and reduced 44% to approximately RM53 million (2019 Q1: RM94 million) following the suspension of business operations to comply with the MCO.
Earnings per share and net assets per share remained resilient at 18.86 sen (2019 Q1: 17.48 sen) and RM1.49 (2019: RM1.30) respectively.