Rwanda: Heineken’s Bralirwa sees 9% fall in H1 profit

Rwandan brewer Bralirwa's first-half pretax profit fell 9 percent due in part to negative foreign exchange effects and rising depreciation charges, Reuters reported on August 14.

Bralirwa, 75 percent-owned by Heineken, said profit eased to 10.36 billion francs ($16 million) from 11.36 billion francs in the first half.

Revenue rose 2.6 percent to 37 billion francs.

Costs rose due to negative foreign exchange effects while depreciation charges on the brewery and soft drinks operations also increased, the company said in a statement, without providing details.

It said its earnings per share fell to 15.06 francs from 15.43 francs in first half 2012.

Bralirwa is Rwanda's oldest brewery with rights to produce brands such as Guinness and Amstel. It also produces branded soft drinks such as Coca-Cola.

($1 = 648.97294 RWF)

16 August, 2013