Rwandan brewer Bralirwa has reported a 68 percent drop in profits after tax in its full year results. Its pretax profit fell to 2.67 billion francs ($3.20 million) down from 8.25 billion francs in 2015, as its costs of sales rose.
According to a statement total revenue rose 6 percent to 88.8 billion francs, while cost of sales went up to 63.1 billion francs from 57.91 billion francs.
Bralirwa is Rwanda’s oldest brewery with rights to produce brands such as Amstel. It also produces branded soft drinks such as Coca-Cola.
Its earnings per share fell to 1.36 francs in 2016 from 6.91 francs a year earlier. ($1 = 830.0300 Rwandan francs)