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National Breweries fiscal H1 profit climbs 20.2% YOY

National Breweries PLC said its normalized net income for the fiscal first half ended Sept. 30 was 31 ngwee per share, an increase of 20.2% from 26 ngwee per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.6 million kwachas, a gain of 20.2% from 16.3 million kwachas in the prior-year period.

Total revenue climbed 7.7% on an annual basis to 206.7 million kwachas from 191.8 million kwachas, and total operating expenses climbed 6.0% on an annual basis to 174.8 million kwachas from 164.9 million kwachas.

Reported net income rose 21.8% on an annual basis to 19.9 million kwachas, or 32 ngwee per share, from 16.4 million kwachas, or 26 ngwee per share.

As of Nov. 18, US$1 was equivalent to 6.36 Zambian kwachas.