May 17, 2011 / 5:23 PM / 8 years ago

Rwanda's Bralirwa says 2010 profit leaps 63 pct

* Post-tax profit hits $18.7 million

* EPS up 63 pct to 20.09 francs

* Says well placed to jump on growth opportunities

KIGALI, May 17 (Reuters) - Rwanda’s biggest brewer Bralirwa said post-tax profit leapt in 2010, driven by increased sales, higher pricing and improved cost management, and it expected to be well positioned to capitalise on growth opportunities.

Post-tax profit increased 63 percent to 10.3 billion Rwanda francs (about $18.7 million) against the previous year, helped by a 13 percent rise in revenue to 52.8 billion francs.

Bralirwa became the central African nation’s first-ever initial public offering in January, marked by a heavy oversubscription that has encouraged Rwanda to speed up the sale of other shares to develop its nascent capital market.

“I am confident that Bralirwa remains well positioned to capitalise on the attractive growth opportunities in Rwanda,” said Chief Executive Officer Sven-Erik Piederiet in a statement on Tuesday.

Bralirwa shares closed at 228 francs compared with its January launch price of 136 francs.

Earnings per share jumped 62.8 percent in 2010 to 20.09 francs. The company recommended a dividend of 20.09 francs per share, up from 12.34 francs last year.

Bralirwa is Rwanda’s oldest brewery with rights to produce brands such as Guinness and Amstel. It also produces branded soft drinks such as Coca Cola. (Reporting by Kezio-Musoke David; Editing by Richard Lough and David Holmes)

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