Sierra Leone: Sierra Leone Brewery results of 2007

The total revenue of the Sierra Leone Brewery Limited increased to SLL31.5 billion compared to SLL30.7 billion in 2006, Awoko Newspaper reported recently.

The year 2007 was an eventful one for the company, Mr A.C Van Citters, one of the directors, said at the company’s Annual General Meeting. The brewery’s earnings from operating activities (before interest and income tax) increased significantly from SLL0.84 billion in 2006 to 2.3 billion, whereas the total finance expenses increased to SLL9.4 billion as against SLL7.1 billion in 2006.

He stated further that as a result of that, the company’s net-loss after tax was SLL7.1 billion for 2007 compared to SLL6.3 billion in 2006 as they reflected the harsh and difficult operational and macroeconomic situation of 2007.

Sierra Leone Brewery’s operating activities were described as flexible and efficient to fully meet the challenges of the changing business environment and to realize the cherished vision of being the most preferred, low cost, high quality beverage supplier in the country.

Mr Van Citters explained that in 2007 the company committed over SLL3.5 billion to capital investment in upgrading production facilities particularly in the utilities and brew house department.

The shareholders re-appointed Mr .S Gannon, J.Bottomley, I.D.A Carrol and A.C Van Citters as directors of the company.

25 July, 2008