TANZANIA Breweries Limited announced earnings results for the half year ended September 30, 2014. For the period, the company reported operating profit of TZS 149.24 billion. The firm recorded revenue growth of 8.0% over last year, driven by price increase following 20% rise in excise duty as well as positive product mix.

Cash generated from operations amounted to TZS 180 billion, of which TZS 39 billion was utilized to pay corporate tax, while the remaining TZS 141 billion funded interest and capital expenditure as well as paying dividends of TZS 74 billion to shareholders. The growth in earnings was achieved largely through favorable product mix, improved efficiencies as well as focused cost management whilst operating in a challenging environment.