Rwandan brewer and soft drink maker Bralirwa has announced a 41.9 per cent growth in net profit to Sh2.04 billion (Rwf14.7b) for the year ended 31 December 2011, driven by growth in sales volumes of its beer brands and soda.
The firm’s turnover increased by 23 per cent to Sh9.02 billion (Rwf64.96B) in what the management attributed to a 16 per cent surge in sales volumes of Coca Cola soft drinks it produces and flagship beer brands – Primus, Mutzig and Heineken – as well as increased pricing of its products during the year under review.
The listed company at the nascent Rwanda Stock Exchange has also unveiled a Sh3.43 billion ($41 million) expansion project to buttress its beverages market share estimated at more than 90 per cent in the emerging East African economy with a population of 100.7 million people.
Bralirwa plans to put up a new soft drink line at its Kicukiro plant and upgrade its main brewery located in Gisenyi, in the western province of Rwanda.
“This investment will allow us to improve our capacity to meet the growing demand,” said Mr Jonathan Hall, the managing director of Bralirwa.
The beverage maker has proposed a final dividend of Sh2.34 (Rwf16.90) per share having already paid an interim dividend amounting to Sh1.01 (Rwf7.30) per share in November last year – bringing the total dividend pay-out for the year to Sh3.36 (Rwf24.20) – translating to a yield of 7.4 per cent as the counter opened at Rwf326 (Sh45.27) on Tuesday.
Bralirwa was the first local company to list at the Rwandan bourse after it offered a quarter of the firm’s shares to the public in January last year through a regional initial public offering priced at Sh18.90 (Rwf136) a piece and was oversubscribed by 174 per cent.