Heineken Malaysia net profit rises to RM282.5mil

Good results: Bala (left) and finance director Szilard Voros relaxing with a glass of beer each after announcing its 2018 full-year financial results.

KUALA LUMPUR: Heineken Malaysia Bhd is maintaining a cautious outlook for the financial year ending Dec 31, 2019 (FY19), in light of the challenging market environment due to intense competition and rising raw material costs.

The group registered a year-on-year net profit growth of 4.6% to RM282.52mil for FY18. Revenue rose 8.3% to RM2.3bil, mainly attributed to higher sales volume, price adjustments on April 15, 2018, as well as the implementation of the sales and service tax on Sept 1, 2018.