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NBL records N$2.4b turnover

Tue, 22 September 2015 18:39
by Online Writer
Business

Namibian Breweries Limited (NBL) released their annual financial results, showing a turnover of N$2.4 billion which is up by 5%. The financial results were released at a press briefing yesterday.

The brewery generated an operational profit N$507 million, up by 12%, earnings per share up by 26% and headline earnings per share which is up by 17.6% to 187.1 cents. The Group’s revenue increased by 5% compared to the previous year. 

The Group’s operating profit (before equity losses and interest) for the year ended 30 June 2015 grew 12% compared to previous year. Namibian beer volumes continue to grow, while beer produced and sold to DHN Drinks (Pty) Ltd (“DHN”) were in line with prior years but Export markets volume declined.

“NBL exceeded all expectations despite increased competitor activities, market forecasts and volume migration to South Africa. Even though we are extremely proud of our financial performance for the financial year 2015, we remain focussed on the job at hand and are working relentlessly towards executing our long term goals and objectives in order to achieve our F19 ambitions,” NBL Managing Director, Hendrik van der Westhuizen said.