Carlsberg Brewery Malaysia Bhd posted a first-quarter net profit of MR27.67m (US$7.28m), down 15% from the corresponding period a year earlier. The drop in profits was attributed to fierce price competition and increased marketing costs.

However, sales revenues climbed by 7.5% to MR274.7m. Carlsberg warned that uncertainties and tough economic conditions would "continue to adversely affect" beer consumption during 2003. The SARS outbreak had also affected on premise beer consumption, the company said.