Tanzania Breweries Limited (TBL) has reported a 15 per cent revenue growth during Q3, 2022 attributed to significant growth in beer and slight growth in spirits business.
According to the company’s financial statement for Q3, 2022, operating profit increased by 18 per cent contributed by volume performance and efficiencies in operating costs.
Selling and distribution costs increased by 10 per cent driven by volume performance and increase in fuel prices. Sales and marketing costs increased during the period driven by increased marketing and brand activities compared to the same period last year.
“The increase in administration and other expenses was largely due to increase of variable compensation and timing of expenses. The impact of volume performance and operating costs resulted in an improvement in the operating margin by 0.5 per cent to 24.8 per cent compared to 24.3 per cent last year,” the TBL Managing Director Jose Moran said.
Profit after tax for the quarter decreased by 4 per cent compared to last year driven by the impact of prior year tax adjustments on last year results.
“I would like to thank the Board, Management and employees for their engagement and commitment in delivering the results and most importantly our customers, consumers and partners for their continued support and trust in our brands,” Moran said.
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