Advertisement The East African Business Bralirwa posts 2.41pc drop in profits as sales slow Thursday August 15 2013 Bralirwa factory. The Rwanda brewer reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Photo/FILE Summary The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Advertisement Rwanda’s brewer, Bralirwa, has posted a marginal 2.41 per cent drop in profit after-tax with very little growth in revenues following slow sales in the first six months of this year.The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Revenues grew by only 2.56 per cent to Rwf37.7 billion ($57.8 million) in the first six months of the year compared to Rwf36.08 billion ($58.9 million) similar period last year following a 0.6 per cent drop in the volume of beverages sold. “In response to the slowing beverage market, the launch in July 2013 of the new 50cl Primus at a recommended consumer price of Rwf500 ($0.77) maintains brand affordability which is key to our consumers,” said Bralirwa in a statement that accompanied the results.Its stock at the RSE last traded at Rwf890 ($1.37), a price that is more than two and a half times its opening price of Rwf330 ($0.523) on the first day of trading this year. At the end of last year, the brewer cut its dividend payout for the period ended December by 17.4 per cent so that it can shore up cash needed for ongoing expansion projects its brewery and soft drinks plants and did not declare an interim dividend for the period ended June 2013. Advertisement READ: Bralirwa cuts dividend to invest in raw material“In the second half of 2013, Bralirwa anticipates modest volume growth. Despite continued uncertainty globally, the Rwanda beverage market context is expected to remain broadly positive and supportive,” said the brewer.Bralirwa said that the investment programme in capacity upgrade and expansion will continue helping it to make sure it is able to meet growing consumer demand. Advertisement In the headlines IMF: Kenya economy to overtake Angola Kenya is projected to overtake Angola and become the fourth-largest economy in Sub-Saharan Africa in 2024. Turkey to drill oil off Somali coast starting in 2025 It is believed that Somalia and Turkey signing a marine and defence cooperation agreement paved the way for the oil deal. UK parliament passes Rwanda migration lawRuto: Digital access to unlock Africa’s potentialTruce crumbles in Sudan army's last Darfur holdoutKenya opens window for Uganda powder milkKenya loses 42pc of Tanzania maize imports
Advertisement The East African Business Bralirwa posts 2.41pc drop in profits as sales slow Thursday August 15 2013 Bralirwa factory. The Rwanda brewer reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Photo/FILE Summary The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Advertisement Rwanda’s brewer, Bralirwa, has posted a marginal 2.41 per cent drop in profit after-tax with very little growth in revenues following slow sales in the first six months of this year.The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Revenues grew by only 2.56 per cent to Rwf37.7 billion ($57.8 million) in the first six months of the year compared to Rwf36.08 billion ($58.9 million) similar period last year following a 0.6 per cent drop in the volume of beverages sold. “In response to the slowing beverage market, the launch in July 2013 of the new 50cl Primus at a recommended consumer price of Rwf500 ($0.77) maintains brand affordability which is key to our consumers,” said Bralirwa in a statement that accompanied the results.Its stock at the RSE last traded at Rwf890 ($1.37), a price that is more than two and a half times its opening price of Rwf330 ($0.523) on the first day of trading this year. At the end of last year, the brewer cut its dividend payout for the period ended December by 17.4 per cent so that it can shore up cash needed for ongoing expansion projects its brewery and soft drinks plants and did not declare an interim dividend for the period ended June 2013. Advertisement READ: Bralirwa cuts dividend to invest in raw material“In the second half of 2013, Bralirwa anticipates modest volume growth. Despite continued uncertainty globally, the Rwanda beverage market context is expected to remain broadly positive and supportive,” said the brewer.Bralirwa said that the investment programme in capacity upgrade and expansion will continue helping it to make sure it is able to meet growing consumer demand. Advertisement In the headlines IMF: Kenya economy to overtake Angola Kenya is projected to overtake Angola and become the fourth-largest economy in Sub-Saharan Africa in 2024. Turkey to drill oil off Somali coast starting in 2025 It is believed that Somalia and Turkey signing a marine and defence cooperation agreement paved the way for the oil deal. UK parliament passes Rwanda migration lawRuto: Digital access to unlock Africa’s potentialTruce crumbles in Sudan army's last Darfur holdoutKenya opens window for Uganda powder milkKenya loses 42pc of Tanzania maize imports
Summary The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Advertisement Rwanda’s brewer, Bralirwa, has posted a marginal 2.41 per cent drop in profit after-tax with very little growth in revenues following slow sales in the first six months of this year.The brewer, which is listed on the Rwanda Stock Exchange (RSE), on Wednesday reported net profits of Rwf7.74 billion ($12 million) for the period ended June 2013 compared to Rwf7.93 billion posted for the period ended June 2012. Revenues grew by only 2.56 per cent to Rwf37.7 billion ($57.8 million) in the first six months of the year compared to Rwf36.08 billion ($58.9 million) similar period last year following a 0.6 per cent drop in the volume of beverages sold. “In response to the slowing beverage market, the launch in July 2013 of the new 50cl Primus at a recommended consumer price of Rwf500 ($0.77) maintains brand affordability which is key to our consumers,” said Bralirwa in a statement that accompanied the results.Its stock at the RSE last traded at Rwf890 ($1.37), a price that is more than two and a half times its opening price of Rwf330 ($0.523) on the first day of trading this year. At the end of last year, the brewer cut its dividend payout for the period ended December by 17.4 per cent so that it can shore up cash needed for ongoing expansion projects its brewery and soft drinks plants and did not declare an interim dividend for the period ended June 2013. Advertisement READ: Bralirwa cuts dividend to invest in raw material“In the second half of 2013, Bralirwa anticipates modest volume growth. Despite continued uncertainty globally, the Rwanda beverage market context is expected to remain broadly positive and supportive,” said the brewer.Bralirwa said that the investment programme in capacity upgrade and expansion will continue helping it to make sure it is able to meet growing consumer demand.
IMF: Kenya economy to overtake Angola Kenya is projected to overtake Angola and become the fourth-largest economy in Sub-Saharan Africa in 2024. Turkey to drill oil off Somali coast starting in 2025 It is believed that Somalia and Turkey signing a marine and defence cooperation agreement paved the way for the oil deal. UK parliament passes Rwanda migration lawRuto: Digital access to unlock Africa’s potentialTruce crumbles in Sudan army's last Darfur holdoutKenya opens window for Uganda powder milkKenya loses 42pc of Tanzania maize imports