The total revenue of the Sierra Leone Brewery Limited increased to Le31.5 billion compared to Le 30.7 billion in 2006.
This was disclosed yesterday to share holders at the company’s Annual General Meeting held at the staff canteen Sierra Leone Brewery Limited, Wellington industrial estate by one of the directors Mr A.C Van Citters, who stated that the year 2007 was an eventful one for the company.
Mr Citters who served as chairman for the meeting stated that earnings from operating activities (before interest and income tax) increased significantly from Le 0.84 billion in 2006 to 2.3 billion in 2007 but stated the company’s total finance expenses increased to Le 9.4billion as against Le 7.1 billion in 2006.
He stated further that as a result of that, the company’s net-loss after tax was Le7.1billion for 2007 compared to Le 6.3 billion in 2006 as they reflected the harsh and difficult operational and macroeconomic situation of 2007.
He explained to the shareholders that their operating activities are now flexible and efficient to fully meet the challenges of the changing business environment and to realize the cherished vision of being the most preferred, low cost, high quality beverage supplier in the country.
About sales and marketing activities Mr Van Citters explained to the shareholders that during the 2007 operating year, the company continued to stimulate and excite the market with quite a number of innovative activities including the launching of repackaged Maltina and Heineken bottles.
“We are pleased to state that the equity of each of our brands is getting stronger to the detriment of our competitors” he stated.
Looking at 2007 and beyond, Mr Van Citters explained that in 2007 the company committed over Le 3.5billion to capital investment in upgrading production facilities particularly in the utilities and brew house department.
Looking forward Chairman Van Citters said “Early this year, we commissioned an ultramodern and fully automated brew house that is now giving us valuable productivity gains in addition to consistently high quality brewed products. Combining this with our ultramodern bottling line we are firmly set on our way to achieving world class standards and the competitive advantage that necessarily comes with such production facilities”.
Commenting on staff empowerment he stated “We have continued to train and empower our staff in the application and adaptation of best proven practices, the reinvigoration of our robust portfolio, depth and breadth penetration of our brands in addition to the development of a robust nationwide distribution network that is now affording us the opportunity to reach out to all our revered consumers in the entire country”.
The shareholders re-appointed Mr .S Gannon, J.Bottomley, I.D.A Carrol and A.C Van Citters as directors of the company. The company’s financial statement, Annual report and Director’s report were presented to the shareholders and approved.
By Ishmael Bayoh