Zambian Breweries expects to announce earnings at half year that are 40% higher than the previous year, according to a statement issued by the company.
“The Board of Directors of Zambian Breweries Plc (“the Board”) wishes to advise the Shareholders that for the period ending 30th June 2019, the basic earnings per share is expected to be 40% higher than that of the corresponding period last year for the Company”, read the statement issued by Deborah Bwalya, Zambrew’s Company Secretary on behalf of the board in Lusaka.
The Jose Moran Ramirez (CEO) led management team has pushed clear beer sales in a year that has seen Zambia’s inflation rate and Purchasing Managers Index enter bearish territory. “This increase is due to clear beer volume growth and the roll out of various cost management initiatives”.
The company’s share price has plummeted by 44.64% since mid-May 2019. This is in sync with overall performance of the LuSE All share index which has been bearish for most of 2019.
Zambrew management, whose Board has received a dose of new energy in the appointments of Board Chair Monica Musonda and Non-Executive Director Jito Kayumba, will be pleased with their performance at half year considering the harsh macro of 2019.
-Updated to include the Chart of Zambrew share price
