Heineken expects outlook to be tough

Heineken Malaysia Managing Director Roland Bala (right), Finance Director Szilard Voros (left) and Corporate Affairs & Legal Director Renuka Indrarajah during their 2019 full-year financial results announcement, February 21, 2020. - GLENN GUAN/The Star

PETALING JAYA: Heineken Malaysia Bhd expects the business environment to remain challenging for the rest of the year amidst uncertainties in the economy, continuous competitive pressure and illicit trade.

The brewer’s net profit for the fourth quarter (Q4) ended December 2019 came in 8.83% lower year-on-year (y-o-y) at RM91.17mil on the back of the phasing of marketing expenses for the launch of Tiger Crystal and Heineken 0.0 and the earlier Chinese New Year festive sell-in.