NBL continues brewing profits

NAMIBIA Breweries (NBL) continued brewing golden results during its 2010 financial year, which saw revenue, operating profit and earnings per share all topping that of last year.

Revenue for the year ended June 30 2010 stood at N$1,74 billion, up ten per cent from N$1,58 billion in 2009. Operating profit frothed to N$313,8 million, 17 per cent more than the previous book year, while earnings per share scaled up one per cent.
In the process, N$71,1 million flowed into government coffers in the form of taxes. NBL also forked out N$1,4 billion to suppliers and employees, about eight per cent more than the year before.
Releasing the full year results on Tuesday, NBL Financial Director Bruce Kidner announced a full-year dividend of 46 cents per ordinary share, nearly five per cent more than last year’s final dividend.
Kidner said volumes sold by NBL during the year grew by 16 per cent.
In regional markets, NBL sold more products in Botswana, Zambia, Zimbabwe and Mozambique. In Angola, sales of Windhoek Special went flat as the unfavourable exchange rate pushed up the price.
Looking at the future, Kidner said NBL was ‘generally optimistic’.
‘We remain confident our strategic direction is sound,’ he said in reaction to competitors SABMiller’s intention to produce beer in Namibia.
Kidner said NBL expects its export sales to continue growing ahead of the trend and that the company will extend its global footprint through the new Diageo Global distribution deal.