PETALING JAYA: Heineken Malaysia Bhd has reported a slight 5% rise in its web revenue to RM90.5 million for its second quarter (Q2 FY2023) from RM86.1 million in the identical interval final yr.
Nevertheless, its income dropped 12% to RM569.2 million from RM644.6 million in Q2 FY2022, based on Heineken’s submitting with Bursa Malaysia immediately.
The decline in quarterly income was primarily attributed to a weakened shopper sentiment stemming from rising dwelling prices and forex volatility, the group mentioned in a separate assertion.
For the cumulative six months ended June 30, 2023 (H1 FY2023), Heineken’s web revenue rose 1% to RM200.4 million from RM199.5 million within the corresponding interval final yr.
Income for H1 FY2023 noticed a marginal 2% drop to RM1.31 billion from RM1.34 billion in H1 FY2022.
Heineken Malaysia managing director Roland Bala expressed the group’s dedication to ship robust progress regardless of the difficult financial circumstances.
“The primary half of 2023 remained difficult because the market went via corrections following an enormous rebound in 2022 and weaker shopper sentiment resulting from macroeconomic considerations.
“We stay targeted on our EverGreen technique to ship long-term sustainable and superior progress,” he mentioned.
Underneath the EverGreen technique, Heineken intends to give attention to price optimisation, model investments and technological developments to successfully navigate the unpredictable enterprise surroundings.
The corporate additionally maintains its dedication to addressing the difficulty of illicit alcohol commerce via collaborative efforts with authorities and heightened market consciousness initiatives.
At market shut immediately, Heineken’s share worth was down eight sen or 0.31% at RM25.82, giving it a market capitalisation of RM7.8 billion.