Self-assured investors snap up TBL shares
A talents manager at TBL and AB-InBev in East Africa Zone, Ms Lilian Makau (right), together with students selected during the first audition of the AB-InBev Global Business Management Program that was held in Dar es Salaam during the weekend. Left is programme manager Eth Baise. Fourteen students from various universities in the country have been selected to join the programme out of 1,200 applicants. PHOTO | CORRESPONDENT
What you need to know:
On Thursday, TBL Group – which consists of TBL, Tanzania Distilleries Limited (TDL) and Darbrew – announced that its profit dropped by 29 per cent during the year ending March 31, 2017 compared to a similar period last year, attributing the fall to the government’s recent ban on importation, manufacturing, selling and consumption of alcohol contained in sachets and an overall challenging economic environment.
Dar es Salaam. Investors snapped up Tanzania Breweries Limited (TBL) shares on Friday as they exhibit their solid confidence in the beer maker’s future despite its recently announced drop annual profit.
On Thursday, TBL Group – which consists of TBL, Tanzania Distilleries Limited (TDL) and Darbrew – announced that its profit dropped by 29 per cent during the year ending March 31, 2017 compared to a similar period last year, attributing the fall to the government’s recent ban on importation, manufacturing, selling and consumption of alcohol contained in sachets and an overall challenging economic environment.
It registered a profit of Sh161.44 billion during the year ending March 31, 2017 from Sh228.99 billion that was registered during a similar period last year.
As a result, the beer maker’s shareholders will now pocket Sh350 in dividend per share, down from Sh600 that was issued out during the year ending March 31, 2016.
“TBL Group of companies has experienced tough trading conditions driven by a soft macro environment and industry specific challenges that include a banning of sachet packaging in our spirits business and noticeable shift towards affordable beer products,” the company said in a statement on Thursday.
But that notwithstanding, TBL transacted a total of Sh554,464 shares at the Dar es Salaam Stock Exchange (DSE) at a weighted average price of Sh13,500 per share on Friday in what analysts believe is an indication that investors still maintain a bullish outlook for the company’s performance going forward.
This suggests that TBL alone contributed a cool Sh7.485 billion or 99.7 per cent of the day’s (Friday’s) Sh7.505 billion turnover.
“This simply means that investors believe the company will do well going forward,” the Core Securities Limited chief executive officer, Mr George Fumbuka, told The Citizen yesterday.
Meanwhile, 14 graduates from various universities in Tanzania have been selected for interview to join the recently launched Global Management Training Program, which is under TBL Group’s parent company, AB-InBev.
The 14 students were selected from 1,200 applicants, the company said yesterday.
The trainings will impact Tanzanian graduates with business management skills that will enable them to run the business and manage production plants professionally.
Speaking during the event, the AB-InBev Africa recruitment manager, Rene Kohler-Thomas, said such training programmes have registered enormous success in other countries where they were implemented, noting that that was why the company decided to ring it to Tanzania.
Apart from Tanzania, the AB-InBev has also selected South Africa, Kenya and Nigeria for the programme.
She said the program aims to give graduates practical skills so that they can get opportunities at managerial level in various businesses across Africa.
