News
Zambia: National Breweries PLC Interim Results for 6 months to 30 September 2008
10 November 2008
In accordance with the requirements of Rule 17 of the Securities (Registration of Securities) Rules, 1993, the Directors of National Breweries PLC have pleasure in announcing the unaudited consolidated results of the Company for the 6 month period ended 30 September 2008.
| All figures are stated in Zambian Kwacha Millions | Six months to 30 Sept 08 | Six months to 30 Sept 07 | % Change |
|---|---|---|---|
| Gross Turnover | 126,053 | 84 537 | +49 |
| Value Added Tax on Sales | 23,454 | 16 745 | +40 |
| Excise & Surtax | 13,518 | 8 452 | +60 |
| Net Turnover | 86,860 | 58 433 | +49 |
| Profit Before Taxation | 21,414 | 16 585 | +29 |
| Taxation | 7,495 | 5 805 | +29 |
| Profit for the period | 13,919 | 10 780 | +29 |
| Earnings per share | K220.93 | K171.11 | +29 |
| Interim dividend per share | K220.93 | K171.11 | +29 |
Commentary
The Directors are pleased to report that the company recorded a strong performance despite several challenges. The general economic environment has been conducive for the business though key to mention and having direct impact were soaring fuel and maize prices. Maize prices have almost doubled from last year's levels while fuel prices hit the US$3 dollar per litre mark in mid September prompting Government intervention.
A well managed distribution network coupled with optimum pricing resulted in substantial increase in demand for our products. We continue to command a reasonable share of the market. We continue to place emphasis on human capital and staff welfare as a priority in achieving our objectives and goals.
There was no change in the number of shares in issue during the last six months. Earnings per share grew by 29% to K220.93 for the period.
By order of the Board
A Malenga
Company Secretary
10 November 2008
INTERIM DIVIDEND
At the board meeting held on 21 October 2008, the Directors approved payment of an interim dividend of K220.93 per share.
In accordance with the requirements of Rule 12 of the (Registration of Securities) Rules, 1993, and the listing rules of the Lusaka Stock Exchange notice is hereby given that the dividend shall be payable to shareholders registered in the company's books as at 31 December 2008. The dividend shall be paid on or about 27 February 2009.
By order of the Board
A Malenga
Company Secretary
10 November 2008