Despite challenging market conditions, GUINNESS ANCHOR (GAB) recorded a Net Profit rise of 29% from previous corresponding quarter to rise to RM34.68m for 2QE Dec 31, 2008 from RM26.8m previously. Revenue increased 13% to RM328.5m compared with RM290.3m previously.
MD - CHARLES IRELAND was quoted in THE STARONLINE on Feb 28, 2009 saying that the better performance was driven in part by the 'sell-in' for the earlier CHINESE NEW YEAR and its continuous marketing activities.
He added that the Company is seeing the business strengthening from month to month, quarter to quarter, and actually the revenue and market shares have grown for the seventh consecutive year. GUINNESS ANCHOR's share in the competitive malt liquor market (MLM) in Malaysia increased to over 60% as at end-2008.
1HE DEC 2008 NET PROFIT HIGHER
For 1HE Dec 2008, GUINNESS ANCHOR's Net Profit grew to RM82m from RM70m in the previous corresponding period while Revenue rose to RM694.3m from RM615.5m.
2009 MARKET EXPECTED TO BE FLAT
IRELAND says he expects the market to be flat in the next 12 to 18 months due to the current economic situation, adding that domestic consumption in malt liquor market (MLM) still has a marginal growth.
He says what the Company has done now is putting in more efforts to deliver results. They are confident of achieving a satisfactory performance for FYE Jun 2009.
Going forward, GUINNESS ANCHOR plans to continue developing and raising the skills of its employees and investing in building its brands to ensure that the Company remains competitive during these difficult times. CHARLES IRELAND also said that the Company invested a total of RM3m in the past three years in training and development of employees.
21 hours ago
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