Tanzania: SABMiller's subsidiary posts a 14% increase in FY210 profit

SABMiller Plc’s Tanzanian unit posted a 14 percent increase in full-year profit as sales of higher-margin premium beers increased, Bloomberg reported on June, 11.

Net income rose to 92.4 billion Tanzanian shillings ($63.7 million) in the 12 months through March, from 80.8 billion shillings a year earlier, Tanzania Breweries Ltd. said in a faxed statement in Dar es Salaam, the commercial capital.

Revenue climbed by the same margin to 528 billion shillings.

“Sales revenue grew by 14 percent due to gains in market share as well as from improving product mix as the premium segment continues to expand,” Managing Director Robin Goetzche said in the statement.

SABMiller, the world’s second-biggest brewer, owns 52.83 percent of Tanzania Breweries.

11 June, 2010