TANZANIA – Tanzania Breweries Limited (TBL), a subsidiary of AB InBev, has reported a slight increase in second quarter revenue from Tsh 260.1 billion (US$111.5m) from Tsh 247.5 billion (US$106.1m) registered in the first quarter of the year.
According to the quarterly results for the three months ended June 2022, cost of sales increased to Tsh 162 billion (US$69.47m) from Tsh 154.1 billion (US$66m), which translated into increase of gross profit to Tsh 98.1 billion (US$42m) from 93.4 billion (US$40m).
Operating profit fell to Tsh 40 billion (US$17m) from Tsh 53 billion (US$22.7m) due to slight increase of sales, distribution costs, administrative costs and other expenses.
Administrative expenses nearly doubled to Tsh 28.3 billion (US$12.1m) from Tsh 14.5 billion (US$6.2m) respectively while selling and distribution costs slightly increased to Tsh 28.9 billion (US$12.3m) from Tsh 25.4 billion (US$10.89m).
Meanwhile, cash generated from operation for the group slowed to Tsh 62.7 billion (US$26.8m) from Tsh 63.7 billion (US$27.3m) while interest payment slightly went up to Tsh 1.08 billion (US$460,000) from Tsh 807 million (US$350,000) and income tax payment amounted Tsh 17.4 billion (US$7.46m) from Tsh 16.9 billion (US$7.25m).
Overall, profit for the period declined to Tsh 27.7 billion (US$11.8m) from Tsh 36.8 billion (US$15.7m), attributable to slight increase of non-controlling interests during the second quarter of the year which amounted to Tsh 2.3 billion (US$990,000) and equity holder of a company amounted Tsh 25.4 billion (us$10.89M).
The statement shows both diluted and basic earnings per share went down during the reported period to Tsh 345 from Tsh 469.
TBL Plc, sells and distributes clear beer, alcoholic fruit beverages and non-alcoholic beverages within Tanzania.
The company has a controlling interest in Tanzania Distilleries Limited, Darbrew Limited and Kibo Breweries Limited.
TBL Plc’s most popular clear beer brands include Safari Lager, Kilimanjaro Premium Lager, Castle Lite, Balimi Extra Lager, Castle Lager, Flying Fish, Safari Double Malt and and Ndovu Special Malt.
Other prominent brands associated with the group are Konyagi, Dodoma and Imagi wines and Redds Premium Cold.
TBL is the largest listed company on the Dar es Salaam Stock Exchange with the market capitalization of Tsh 3.2 trillion (US$1.37 billion), accounting for nearly 20 percent of the market total capitalization, and has the second highest share price.
It employs about 1,267 people and is represented throughout the country with four clear beer breweries, a spirit manufacturing facility, and traditional beer manufacturing facility and 8 distribution depots.
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