KUALA LUMPUR : Carlsberg Brewery Malaysia Bhd's net profit fell by 7.7% to RM21.78 million in the third quarter ended Sept 30, from RM23.59 million in the corresponding period a year ago as turnover declined.

Revenue during the quarter dipped 9.2% to RM242.1 million from RM266.59 million, the company said in a filing to Bursa Malaysia today.

The brewer's cumulative nine-month net profit declined 15.8% to RM56.04 million from RM66.53 million while revenue was down 1.3% RM745.09 million from RM755.01 million.

"The lower revenue [in 3Q] was mainly due to the later timing of the government's budget announcement this year compared with 2008. This resulted in a shift of the trade stocking-up on beer from 3Q last year to 4Q this year, which had a significant impact on domestic sales. This was partly mitigated by the inclusion of the acquired subsidiary Luen Heng F&B Sdn Bhd," Carlsberg said in the filing.

As a result of the timing of the government's budget announcement, Carlsberg foresees higher domestic sales in 4Q, and satisfactory performance in its current financial year.