Namibia: Namibia Breweries records 15.3% annual revenue growth in financial year to June 30
Namibia Breweries Limited recorded a profit after tax of N$931 million as a result of an increase in beer export volumes to South Africa, accounting for 32.8% of its total exports, The Namibian reported on September 14.
The company revealed this during the announcement of its financial results for the financial year ended 30 June 2019 on September 13.
NBL's managing director Marco Wenk said during a presentation on the company's integrated annual report for 2019 that its revenue was N$3.1 billion at the end of June 2019, an increase of 15.3% from N$2.7 billion in June 2018.
NBL's operating profit stood at N$652 million, an increase of 6.3% from N$613 million in June 2018.
Overall growth in volumes was attributed to a partnership undertaken with Heineken South Africa.
The company, which is a subsidiary of the Ohlthaver and List Group of Companies, exported 2.6% of its beer volumes to other parts of the world; while ciders and soft drinks accounted for 3.2% and 5.5% of its total export volumes.
Meanwhile, NBL recorded 57.8% of its total beer volume contributions in Namibia, while growth in volumes in exports to South Africa stood at 44.8%.
Headline earnings per share increased to 450.70 cents per share in June 2019, from 194.60 cents per share at the end of June 2018.
Wenk said the company was also looking at the non-alcoholic segment in the world, which is becoming increasingly popular.
He noted that despite the company's strong financial performance, there was a decline in consumption due to lower buying power by consumers and high poverty levels, as well as the challenging economic conditions in the world.
“Our focus to maintain and grow market share both within as well as outside of our borders will remain high on our agenda, while providing an environment for our people to grow and succeed, will remain a key deliverable to ensure NBL's future success as well as to deliver our group's vision towards 2025,” he stated.
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