The company said the fall was partly due to “weaker sales and increased marketing spending”.

However, revenue for the quarter saw a slight uptick by 0.1% to RM507.5 million from RM506.7 million in the previous quarter.

Carlsberg declared an interim dividend of 20 sen a share, bringing the cumulative interim dividend to 42 sen per share so far.

For the six months ended June 30, 2024 (H1 FY2024), net profit slipped 3.4% to RM167.3 million from RM173.3 million a year earlier, due to deferred tax liabilities from its Sri Lankan unit.

Half-year revenue rose 5.7% to RM1.23 billion from RM1.16 billion, attributed to the longer selling period before the Chinese New Year in early 2024, which helped offset the impact of discontinuing the Asahi brand in Singapore.

On its prospects, Carlsberg Malaysia managing director Stefano Clini said the group is mindful of the uncertain global economic outlook due to inflationary pressures and high interest rates, resulting in cautious consumer spending.

“However, the timing of seasonal celebrations is expected to contribute to an increase in sales volume.

“We continue to stay vigilant on cost management and cost optimisation opportunities in our supply chain, which will enable us to accelerate investments in our brands, ensuring sustained growth and delivering value for our shareholders,” he said at the company’s results briefing.

On the question of beer consumption, Clini said the industry’s total consumption volume has not returned to pre-Covid levels.