NBL gathers momentum

NAMIBIA Breweries Limited (NBL) yesterday released positive annual results, with the group having realised a profit of N$145 million for the six months ended June 30 2007; an increase of 43 per cent from the previous period.

The company drew in revenue of N$1,1 billion from N$929,3 million. The company in its annual report said the local market had seen strong growth in beer volumes, with Windhoek Lager sales having been exceptionally good during the period under review.Volume growth was also boosted by strong growth in group’s markets within the SADC region, in particular Botswana and Angola.The positive trend carried on through the group’s South African volumes with double-digit growth on Windhoek Lager.The company feels that its strategy to invest in the South African market is yielding desired results.However, NBL’s soft drinks – which include Pepsi and 7 UP – failed to shine amid strong competition in that area.”Alongside the two main brands in Namibia, Windhoek and Tafel Lager, the group will continue to pursue innovation in the market.The soft drinks business continued to suffer from strong competitive pressure and remains an area of strategic focus,” the NBL board announced.Profit attributable to ordinary shareholders went up by 43 per cent to N$121,2 million from N$83,3 million recorded during the first six months of last year.Operating expenditure increased by 18,4 per cent due to the surge in volumes, coupled with price increases on key inputs.Total assets grew to N$823,7 million from N$727,2 million.NBL said it was committed to driving its growth and aiming for better results for the rest of the year.The company in its annual report said the local market had seen strong growth in beer volumes, with Windhoek Lager sales having been exceptionally good during the period under review.Volume growth was also boosted by strong growth in group’s markets within the SADC region, in particular Botswana and Angola.The positive trend carried on through the group’s South African volumes with double-digit growth on Windhoek Lager.The company feels that its strategy to invest in the South African market is yielding desired results.However, NBL’s soft drinks – which include Pepsi and 7 UP – failed to shine amid strong competition in that area.”Alongside the two main brands in Namibia, Windhoek and Tafel Lager, the group will continue to pursue innovation in the market.The soft drinks business continued to suffer from strong competitive pressure and remains an area of strategic focus,” the NBL board announced.Profit attributable to ordinary shareholders went up by 43 per cent to N$121,2 million from N$83,3 million recorded during the first six months of last year.Operating expenditure increased by 18,4 per cent due to the surge in volumes, coupled with price increases on key inputs.Total assets grew to N$823,7 million from N$727,2 million.NBL said it was committed to driving its growth and aiming for better results for the rest of the year.