S AFRICA: Nambrew EPS up, but profits dip
Namibia Breweries Ltd. (Nambrew) has seen its headline earnings per share (EPS) rise in the 17 months to June. Operating profit tumbled for the company, however, as competition in South Africa intensified.
Nambrew said yesterday (27 September) that EPS increased to 18.8 cents in the period. The figures are not comparable with the previous period, however, as the company changed its financial year-end to 30 June from 31 January.
In the previous financial year to the end of January, headline EPS came in at 11 cents.
During the 17 months under review, the brewer saw operating profit fall sharply to NAD36.8m (US$5.73m) from NAD70.5m in the previous 12 months.
Nambrew, in which Heineken and Diageo hold a combined 28.9% stake, blamed the decline on a flat beer market in Namibia, intense competition in the South African premium beer market and costs related to the establishment of a BrandHouse Joint Venture in South Africa.
The company said it was confident that the foundation had been laid for regaining market share in Namibia and increasing growth in South Africa and other export markets. "This will contribute to sustainable profit growth in the medium to long-term future," it said in a statement.
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
Diageo is poised to cut back its presence in Germany, according to local reports....
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
Diageo North America has poached a senior executive from General Motors....
Grupo Empresarial Bavaria is not looking to sell up, its president has confirmed....
The chief financial officer of Brau Union has resigned....
Diageo has appointed Dr Franz B Humer, chairman and CEO of the pharmaceutical group Roche, to the Diageo board, effective from Friday (1 April)....
- Chile's winemakers caught out by Brexit "disease"
- What's coming up in beer in 2017? - Comment
- The just-drinks Analyst - 2017 forecasts
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- Suntory sends staff to fat camp - report
- Diageo Australia names new commercial head
- Pernod Ricard's Absolut Lime - NPD
- Former Stoli Group CEO joins Perfect Vodka owner
- US craft beer growth slows again - IRI figures
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits