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Tanzania Breweries fiscal H1 profit climbs 18.2% YOY

Tanzania Breweries Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 294.00 Tanzanian shillings per share, a gain of 18.0% from 249.22 shillings per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 86.84 billion shillings, an increase of 18.2% from 73.44 billion shillings in the prior-year period.

Total revenue rose 7.7% on an annual basis to 516.88 billion shillings from 480.12 billion shillings, and total operating expenses grew from the prior-year period to 367.63 billion shillings from 352.77 billion shillings.

Reported net income grew 18.1% on an annual basis to 97.47 billion shillings, or 330.00 shillings per share, from 82.51 billion shillings, or 280.00 shillings per share.

As of Nov. 21, US$1 was equivalent to 1,728.50 Tanzanian shillings.