This archive report was first published on 16 October 2019.
On October 7, 2019, Tanzania Breweries Ltd's share price stood at Tsh10,900 ($4.7) with a Tsh3.2 trillion-plus ($1.4 billion) capitalisation.
The company's managing director, Philip Redman, attributed the operating profit to a rise in brewing productivity, lower prices for brewing and packaging raw materials, and more efficient logistics resulting in lower overhead costs.
"Our beer volumes returned to growth in the first half of 2019, with good performance in our mainstream brands and affordable brands segment," said Mr Redman.
According to the company's half-year financial report up to June 2019, revenues dropped by three per cent mainly due to a scale-down in the business volume of its Darbrew Ltd unit which manufactures traditional beers like Chibuku.
TBL declared a Tsh350 (15 US cents) per share dividend payout to its shareholders for the month of July 2019.
TBL was listed on the Dar es Salaam Stock Exchange in September 1998, making it one of the exchange's oldest and most established companies.
Meanwhile, Tanga Cement Plc, another major player in the Tanzanian market, has published a cautionary notice advising its shareholders that the company expects its operating profit for the first six months of 2019 to be "between 112 per cent and 122 per cent lower than that of the comparative period for 2018."
