Typesetter | Jul 20, 2017 | 0
NBL delivers solid performance
Hendrik van der Westhuizen, Managing Director of Namibia Breweries Limited this week announced that the Breweries had managed to exceed expectations and delivered a solid financial performance in the just-concluded financial year. The turnover of N$2.4 billion was 5% higher than the previous year.
He said, “NBL exceeded all expectations despite increased competitor activities, market forecasts and volume migration to South Africa. Even though we are extremely proud of our financial performance for Financial Year 2015, we remain focussed on the job at hand and are working relentlessly towards executing our long term goals and objectives in order to achieve our Financial Year 2019 ambitions.”
A number of renovations, innovations and exciting consumer engagements were launched in the recently concluded financial year and included; the revamp of the McKane Brands, the launch of a 3rd Vigo variant, as well as launches of various limited packs aimed at expanding the Breweries’ offerings into more events and occasions.
Graeme Mouton, the Finance Director said, “NBL continued its strong performance in the local market. Namibia beer volumes experienced single digit growth while the soft drinks and ready-to-drink (RTD) category experienced double digit growth compared to previous year. The South African joint-venture, DHN (Diageo Heineken and Nambrew) experienced a marginal increase in losses compared to the prior year; however, taken together with royalties and production margins, the South African operation continues to make positive returns from ongoing operations”. Van der Westhuizen concluded, “We are extremely optimistic for what the future holds for NBL and the new joint venture structure in South Africa. Conclusion of the joint venture is subject to approval from the Competition Commission. However, we are confident that once approval is received, both NBL and Heineken will greatly benefit from the opportunities that exist in the South African market. We have full confidence in our long-term strategic plan and as such, NBL is well on track to execute and achieve its F19 ambitions.”