HEINEKEN Malaysia Bhd posted an 11% higher net profit to RM312.96 mil for the financial year ended Dec 31, 2019, from RM282.52 mil for the previous year, according to a Feb 21 filing with Bursa Malaysia.
Revenue for the financial year rose 14% to RM2.32 bil from RM2.03 bil for FY18.
The brewer proposed a single-tier final dividend of 66 sen per stock unit. A single-tier interim dividend of 42 sen per stock unit was paid on Oct 25 last year.
This brings the total dividend for FY19 to RM1.08 sen per share.
According to Heineken, subject to shareholders’ approval at the forthcoming annual general meeting, the single-tier dividend would be paid on July 17.
On a quarterly basis, Heineken posted a net profit of RM91.16 mil for the fourth quarter ended Dec 31 compared to RM99.99 mil for the same quarter last year. This came on the back of sales of RM680 mil for the quarter under review as opposed to RM662 mil.
Going forward, Heineken expects the business environment to remain challenging amid uncertainties in economic conditions, continuous competitive pressures and presence of contraband beer in the market.
“Nevertheless, riding on the strong foundation that the group has laid in the past, coupled with investment in brands and new product launches, the group will continue to pursue sustainable growth by sharpening its commercial execution and driving effective cost management across the organisation,” the brewer said in a Feb 21 statement.
Heineken’s share price closed 2.31% higher to RM31.04. – Feb 21, 2020
