28 March, 2007

Namibia: Namibia Breweries rating "hold"

Analysts at IJG Securities maintain their "hold" rating on Namibia Breweries Limited, Newratings announced March 23.

In a research note, the analysts mention that the company has posted robust FY06 results. Namibia Breweries' results were boosted by the company's cost cutting initiatives and favourable currency effects, the analysts say. The company is expected to post 5% y/y and 2.8% growth in its revenues and HEPS, respectively, and a marginal contraction in its operating margins in FY07 due to an increase in its marketing costs, IJG Securities adds.

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