Guinness Q2 profit up on pre-CNY sales

 

Guinness Anchor Bhd (GAB) has recorded a higher pre-tax profit of RM58.6 million for its second quarter ended December 31, 2009, compared with the RM46.3 million previously, due to the pre-Chinese New Year sales.

Its turnover jumped to RM378.13 million from the RM328.5 million recorded in the second quarter of the previous financial year.

However, for the six months period, pre-tax profit slipped to RM94.5 million versus RM109.6 million previously, while turnover also declined to RM679.1 million from RM94.3 million, said GAB in a filing to Bursa Malaysia.

"We expect the 2010 financial year to exceed last year's record breaking performance," said its managing director, Charles Ireland.

He said this year, the company will benefit from the FIFA World Cup in June as this type of event, brings together people at pubs.

Ireland also said the company is looking to launch more brands under the GAB umbrella, this year to boost its brand presence in Malaysia.

Currently, the Tiger beer brand is the main contributor to sales while Guinness and Heineken are next in line. -- BERNAMA