Namibia Breweries Limited (NBL) banked an operating profit of N$375,3 million for 2011, nearly 24 per cent more than last year, despite facing several trade hurdles in especially some of its important export markets.

Turnover for the year jumped by four per cent to N$1,8 billion.

"Despite many industry players struggling to maintain market share during these trying times, NBL had managed a revenue growth of four per cent," managing director Desmond van Jaarsveld said on Friday when he released the breweries' financial results for the year ended June 30 2011.

NBL's financial director Bruce Kidner said the company delivered distributable profit after tax of N$211,3 million, compared to N$159,8 million in 2010.

"As a result of this robust performance despite economic pressure, we are able to declare a total combined dividend of 50 cent per share for the full year," said Kidner.

The company's earnings per share were up 32 per cent.

Van Jaarsveld said the severe flooding in the north of Namibia not only impacted on business in the affected area, but impacted on overall domestic consumption during the latter half of the financial year.

He said that in Botswana, positive growth was experienced, despite the alcohol levy being increased from 30 per cent to 40 per cent last December.

Van Jaarsveld said the Windhoek trademark has delivered good growth, with Windhoek Draught performing exceptionally well in all markets. Tafel Lager also showed significant growth in Namibia during the period under review.

"The continued growth of the business contributed to a number of business improvements and innovations, which include amongst others, co-packing volumes for South Africa, the continued growth of the South African joint venture, DHN Drinks (Pty) Ltd, the extension of Windhoek Draught in South Africa, and the launch of Windhoek Draught in a 750ml returnable pack in Namibia," said Van Jaarsveld.

The company is optimistic about its future business outlook.

"While we do foresee a number of challenges, I am confident that we have made significant investments in infrastructure as well as our brands and our people, and that we have a competent team that will deliver breakthrough results," said Van Jaarsveld.

The Namibian/26/09/2011