Mozambican beer maker Cervejas de Moçambique sees turnover and profit increase

31 July 2012

Mozambican beer maker Cervejas de Moçambique (CdM) in the financial year ended in March 2012 posted a profit of 1.083 billion meticals (US$66 million), which was an increase of 26.8 percent on the 854 million meticals posted in the previous financial year, Mozambican news agency AIM reported.

The beer maker posted turnover of 7.807 billion meticals (around US$281 million), which was a rise of 1.058 billion meticals against the figure for the previous year.

According to the company’s managers, who met in a General Meeting last week, the growth in profits was the result of good performance in the first quarter of 2012, after a slowdown posted in the third quarter of 2011.

The results also reflect investment efforts made in the Nampula factory, which opened two years ago, and which saw an increase in sales.

CdM is a subsidiary of the SABMiller group and has three beer factories and eight sales deposits in Mozambique. It was awarded the title of “Best Taxpayer of the Year” for the third year running by Mozambique’s Tax Authority. (macauhub)