Bralirwa, Rwanda’s largest beer and soft drinks manufacturer has posted a drop of 80.3 per cent in profit attributed to the high cost of financing its foreign debt against a weakening Rwandan franc and high operating expenses.
The Rwanda Stock Exchange listed company posted a full year net profit of $1.7 million compared to $8.6 million posted in the full year period ended December 2015.
However, total revenue rose 6 percent to $107.7 Million while cost of sales went up to $76.5 Million from $70.2 Million.
Bralirwa is Rwanda’s oldest brewery with rights to produce brands such as Amstel. It also produces branded soft drinks such as Coca-Cola.
The company is a subsidiary of Dutch conglomerate Heineken N.V Netherlands which owns 75% of the total shareholding while the remaining 25% is owned by the public through the Rwanda Stock Exchange.
Exchange Rate; $1 = 830.0300 Rwandan francs