TANZANIA
Breweries Limited (TBL) shareholders will pocket 770/- per share for
the year ended 2017 that was approved at the 45th Annual General Meeting
held in Dar es Salaam over the weekend.
This is an increase of 120 per cent compared to 600/- per share approved in the preceding year.
TBL
Board Chairman, former prime minister, Cleopa Msuya said the company
posted dividend increase despite internal and external challenges in its
operations which include imposition of 5 per cent increase on alcohol
excise duty and a ban of sachets.
He
said externally, the company faced disruptions in operations and
processes during the transition to AB InBev in the quest to exercise
synergies and onboard shared practices.
He noted however that, the company’s willingness to embrace the changes need for a successful transition has been impressive.
And
apart from the challenges, the company’s financials for the nine months
ended December last year show that sales volume grew to 3.3 hectolitres
resulting in 24 per cent volume growth in revenue and 16 per cent
growth in operating profit.
TBL
Group Managing Director Roberto Jarrin said, two years ago the company
made a decision to stir up its strategy towards affordability and
accessibility by investing in affordable brands and packs as well as
investing in strengthening route to consumer capabilities.
“Our company’s performance in the last financial year proves that our strategy works.
We were able to reverse years of muted volume growth to deliver double digit growth despite challenges faced,” he said.
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