WINDHOEK, Oct.4 — Namibia Breweries Limited (NBL), a leading beverage manufacturer in Namibia primarily known for its beer production, on Monday reported a 19.8 percent rise in net revenue to 4.06 billion Namibian dollars (about 235 million U. S. dollars) for the fiscal year ended June 30, 2024. The net revenue growth was driven by increased volumes across its wine, cider, and spirits portfolio, and a rise in market share for its beer products, NBL said in a statement Monday. Operating profit for the period rose 10.6 percent to 466 million Namibian dollars, compared to 421 million Namibian dollars in 2023. According to NBL, this improvement came as integrating the company’s business with Distell enhanced fixed-cost ratios and created more opportunities to meet consumer demand. “We invested 337 million Namibian dollars in a new wine packaging line and another 44 million Namibian dollars to improve existing lines, along with 3.2 million Namibian dollars spent on workforce development,” said Managing Director Peter Simons. NBL’s net profit after tax, however, fell over 90 percent, mainly due to one-off gains from the sale of shares in Heineken South Africa in 2023, the company added. Excluding these gains, the company’s normalized profit, measured by headline earnings per share, decreased 3.3 percent due to higher financing and taxation costs. Looking ahead, NBL plans to further optimize its combined portfolio of brands and enhance its infrastructure to improve margins and capitalize on future growth opportunities.
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