Rwandan brewer Bralirwa profit lifted by lower financing costs

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Rwandan brewer Bralirwa said on Monday its pretax profit rose to 7.709 billion francs ($9 million) in 2017, from 2.67 billion francs a year earlier, helped by lower financing costs that cushioned a slight revenue drop.
Bralirwa is Rwanda’s oldest brewery and has rights to produce beer brands such as Amstel. It also produces branded soft drinks such as Coca-Cola.

It said its sales volumes fell by 12 percent to 1.5 billion francs in 2017, hurt by the impact of price rises of both soft drinks and beer and strong competition.

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“We used to be in (a) monopoly situation in 10 years ago and now we are facing strong competition from local production coming from Skol but also from imports … from Uganda, Tanzania and Kenya,” Victor Madiela managing director, said.
Bralirwa said its earnings per share rose to 3.75 francs from 1.36 francs in 2016.

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