Business Local Business

ZB makes K318 million ops profit

KELLY NJOMBO, Lusaka
DUE To a 30 percent rise in clear beer sales, Zambian Breweries has recorded an increase in operating profit to K318 million as at March 31, 2016 from K250 million as at March 31, 2015.
The company has also achieved a 27 percent increase in operating profit in the same period due to competitive beer prices, attention to sales execution and a wide range of beverage options.
According to a statement availed to the Daily Mail on Friday, Zambian Breweries managing director Annabelle Degroot said a 68 percent increase in volumes of the Eagle beer contributed to the growth of the 55 percent increase to K84 million in corporate tax liability paid to Government.
“Despite the reduction in clear beer excise from 60 percent to 40 percent on January 1, 2016, we are pleased to report that in the quarter from January to March 31, 2016 we paid 20 percent more value added tax and excise than in the prior period,” Ms Degroot said.

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