Namibia Breweries Limited disclosed that according to paragraph 3.4 (b) of the Listing requirements of the Namibia Securities Exchange, shareholders were advised that the group’s operating profit for the eighteen months, ended 31 December 2024, is expected to increase by between 110% and 115% compared to the twelve-month comparative financial period.
“This increase is driven by strong performance from the new portfolio. Over the eighteen-month period, growth was constrained by higher net financing costs and increased tax expenses, leading to a more moderate increase in headline earnings of between 91% and 96%,” the company said.
The company said as a result of the once-off extraordinary gains related to the profit realised on the sale of the shares held in Heineken South Africa (RF) Proprietary Limited in the previous period, the profit after tax and basic earnings per share for the eighteen months, ended 31 December 2024, are expected to decrease by more than 85%.
The group´s audited financial results for the eighteen months, ended 31 December 2024, are expected to be published on 28 March 2025 and in the press on 31 March 2025.
The company further directed shareholders to the announcement dated 27 March 2024, in which NBL informed shareholders of the change in year-end to 31 December.
“As a result of this change, NBL will publish annual financial statements for the eighteen-month period ending 31 December 2024. Shareholders are advised that the previous financial results, which covered a twelve-month period, may not be directly comparable.” JSE
