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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 MillionsSix months to
30 Sept 08
Six months to
30 Sept 07
%
Change
 
Gross Turnover126,05384 537+49 
Value Added Tax on Sales23,45416 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

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