KIGALI (Reuters) - Rwandan brewer Bralirwa reported a 45 percent rise in first-half net profit, driven by higher prices for its beer brands and soft drinks, and predicted further growth for the rest of the year.
The company, 75 percent-owned by Heineken, cited a growing market and a favourable exchange rate of the Rwandan franc against the euro for the earnings growth in the face of increasing competition.
Net profit for the first six months rose to 7.9 billion francs.
"I do not see any reason why the current trend should not continue, even with the competition we have," managing director Jonathan Hall told reporters on Thursday.
"I have mentioned the forex effect of the significant depreciation of the euro against the Rwandan Franc, which is very significant and I think is likely to continue."
He said the company would retain its policy of rigorous cost control, and said the biggest threats to the brewer's business were from outside East Africa, the euro and the slowing down of the economy in China.
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.
Source: http://news.yahoo.com/rwandas-bralirwa-first-half-net-profit-rises-45-141425294--sector.html
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