Rwanda's largest brewery company, Bralirwa, posted a net profit of Rwf15 billion in the first half of 2024, a 15 per cent increase compared to the same period last year.

The Rwanda Stock Exchange-listed company's revenue increased by 19 per cent to Rwf102 billion, driven by a sales volume growth of 9 per cent in the year under review

ALSO READ: Bralirwa records slight increase in profit margin in 2023

Etienne Saada, Bralirwa&039;s Managing Director, said that the increase in overall top line results was driven by improved mix and pricing strategies.

"Our focus on revenue and margin growth, cost-saving initiatives and operational efficiencies, significantly enhanced our operating results, despite high input and energy cost inflation," he noted.

According to Bralirwa, global inflationary pressures as well as high input costs had a significant impact on the company's cost of sales in the first half of 2024.

Bralirwa's cost of sales, how much it spends on producing its products, increased by 21 per cent to Rwf58 billion, while its earnings before interest and taxes increased to Rwf26 billion from Rwf 23 billion recorded in the same period.

The company also indicated in its latest financials that selling and distribution costs also increased by 23 per cent driven by high transportation costs and commercial expenses.

ALSO READ: FEATURED: Bralirwa inaugurates state-of-the-art production line as part of € 30m expansion project

The company's net finance cost increased by 28 per cent mainly due the high cost of foreign exchange, caused by the depreciation of the Rwandan Franc against major currencies.

In 2023, the Rwandan franc depreciated by 18 per cent against the dollar, greatly impacting the operations of many firms in the country.