PBT for 3QFY19 grew 39% to RM136 million (3QFY18: RM98 million) on the back of revenue growth and improved cost efficiency, as well as the timing of commercial spend for new product launches which although executed in Q3 were incurred in Q2. Net profit for the period increased by 31% to RM103 million (3QFY18: RM79 million).
For the nine months ended 30 September 2019, revenue increased 20% to RM1.64 billion, mainly due to robust sales performance of the core brands and new product launches in Q3. Excluding the SST impact, revenue for the nine months grew by 13%, while PBT increased by 24% to RM292 million compared to the same period last year, largely the result of higher sales and improved cost efficiency.
Roland Bala, Managing Director of HEINEKEN Malaysia commented, “The Company’s commendable performance in the third quarter reflects strong execution of commercial priorities and operational efficiencies in a challenging environment. During the quarter, we were pleased to launch exciting innovations providing our consumers exceptional experiences with our world-class brand campaigns and activations. A key milestone in the quarter was the launch of the non-alcoholic Heineken® 0.0 and the ultra-refreshing Tiger Crystal.”