KUALA LUMPUR: Heineken Malaysia Bhd's net profit marginally rose 0.7 per cent year-on-year (YoY) to RM91.13 million in the second quarter ended June 30, 2024 (Q2 2024) versus RM90.47 million in Q2 2023 due to effective cost and value management.
Its revenue dropped to RM565.5 million from RM569.24 million in the same period last year due to subdued consumer sentiment amid rising cost of living and ongoing macroeconomic uncertainties.
For the cumulative six months, its net profit increased to RM213.61 million from RM204 million and revenue rose four per cent to RM1.35 billion from RM1.31 billion a year ago.
This was due to effective implementation of strategic commercial initiatives such as the Chinese New Year campaign in the first quarter, the company said.
"We continue to invest behind our strategic brands and innovations in the first half of 2024 as Heineken Malaysia initiated a series of activations to engage and connect with our consumers," said the brewer's managing director Martijn Rene van Keulen in a statement.
The company announced a single interim dividend of 40 sen to be paid on Oct 30.