#JustIn: NamBrew’s revenue surges by 20.6%

Locally-listed Namibia Breweries (NBL) reported an operating profit of about N$288.98 million for the six months ended 31 December 2022, a drop of nearly 1% compared to the same half-year in 2021.

The beer giant generated total revenue of nearly N$2.4 billion, an increase of 20.6% year-on-year (y/y).

Operating profit came in at some N$358.99 million, up nearly 0.3% y/y.

Headline earnings per share (HEPS), a profitability gauge, rose by 10.9% y/y to 137.4c.

In its latest interim results, released on the Namibian Stock Exchange (NSX) today, NamBrew said the next months will see a significant, yet exciting change for NBL and its people.

“A detailed integration process will be driven by Heineken to capture the opportunities of an expanded portfolio of brands, a bigger team and more occasions to meet consumer demand.

“NBL will start implementing plans to create capacity for more manufacturing in Namibia as it migrates from beer to a multiple-beverage category,” the group said.

No interim dividend was declared in accordance with the conditions of the Heineken transaction.

As part of the Heineken Transaction, the special dividend payment of N$26.35 will be paid to shareholders when the disposal of the investment in Heineken SA becomes unconditional.

“The NBL team is positive and energised by the upcoming changes and appreciates the opportunities that will be realised in becoming part of such a significant global entity,” NamBrew said.