By David Mugwe
In Summary
- The Dar es Salaam Stock Exchange listed firm on Tuesday morning reported a 7.9 per cent increase in profit after tax to Tsh86.75 billion ($53.8 million) in the six months ended September 2013 from Tsh80.37 billion ($43.7 million) in the six months ended September 2012
- It will pay Tsh150 ($0.09) per share in an interim dividend, which amounts to Tsh43.35 billion ($26.9 million) which is 50 per cent of its profit after tax made for the period ended September
- Its shares at the DSE closed at Tsh7,360 ($4.57), a 15 per cent gain from Monday’s close of Tsh6,400 ($3.98)
Tanzania Breweries Limited (TBL) shares jumped
15 per cent during trading hours on Tuesday after the brewer announced
that it will pay half of its six months net income in dividends.
The Dar es Salaam Stock Exchange (DSE) listed firm
on Tuesday morning reported a 7.9 per cent increase in profit after tax
to Tsh86.75 billion ($53.8 million) in the six months ended September
2013 from Tsh80.37 billion ($43.7 million) in the six months ended
September 2012.
TBL said that it will pay Tsh150 ($0.09) per share
in an interim dividend, which amounts to Tsh43.35 billion ($26.9
million) which is 50 per cent of its profit after tax made for the
period ended September.
Shareholders who will be on the register by
December 19 will be eligible for the interim dividend, which will be
paid on December 27.
Its share at the DSE closed at Tsh7,360 ($4.57), a 15 per cent gain from Monday’s close of Tsh6,400 ($3.98).
The brewer’s shares have risen by more than two
and a half times this year when compared to the opening price of
Tsh2,800 ($1.78) on the first trading day of January.
TBL, which is majority owned by SABMiller, said
that its profit was driven by a growth in sales and price increases on
its beverages.
“Growth in earnings was achieved largely through
increased sales volumes, improved efficiencies as well as focused cost
management whilst operating in a challenging environment,” said Robin
Goetzsche, managing director, TBL in a statement that accompanied the
financial results.
TBL said revenues rose by 9.12 per cent to
Tsh480.12 billion ($298 million) in the six months ended September this
year from Tsh440 billion ($239.3 million) in the six months ended
September last year.
TBL’s competitor in the East African region, East
African Breweries Limited, which is majority owned by Diageo saw its
shares close at Ksh319 ($3.68) on Tuesday at the Nairobi Securities
Exchange, a 20.38 per cent gain when compared to their opening price of
Ksh265 ($3.08) at the beginning of this year.
Bralirwa’s shares, a Rwanda Stock Exchange brewer
which is majority owned Dutch brewer Heineken, saw its shares close at
Rwf848 ($1.27), a 34.60 per cent gain from Rwf630 ($0.22) its closing
price at the end of last year.
No comments :
Post a Comment