- Says improvement reflects performance of associate companies
- Profit before tax is expected to be higher by between 15% and 25%
Kgalagadi Breweries Limited’s (KBL) parent company, Sechaba Brewery Holdings Limited (SBHL or Sechaba), expects its profit before tax for the full year that ended 31 December 2022 to increase by more than P30 million, the company has announced.
“The Board of Sechaba Brewery Holdings Limited (SBHL) hereby announces that the results for the full year ended 31 December 2022 will be higher than those reported for the full year ended 31 December 2021,” reads a cautionary announcement from the company for the period under review.
“The profit before tax is expected to be higher by between 15 percent to 25 percent. This translates to an increase of between P33 million and P55 million. The profit before tax for the year ended 31 December 2021 was P219 million.
“The process of finalising of the results is still underway and full details on SBHL performance will be shared when the financial results are released on or before 31 March 2023.
“Accordingly, shareholders of SBHL are advised to exercise caution when trading in the company’s securities until a full announcement is made.”
According to the announcement, Sechaba’s improvement reflects in the performance of its associate companies.
SBHL is an investment company whose sole investment was in Kgalagadi Breweries Proprietary Limited (KBL) until 2018. In that year, KBL was restructured by separating the net assets of its Non-Alcoholic-Ready-To Drink business, which eventually formed the Coca-Cola Beverages (Botswana) (Proprietary) Limited (CCBB).
Sechaba now holds 49.90 percent shareholding in KBL, with Anheuser Busch InBev (AB InBev) holding the remaining shares. SBHL also holds 49.90 percent in CCBB with Coca-Cola Beverages Africa holding the balance.