Heineken’s Rwandan Unit Posts 63% Profit Increase as Sales Grow

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Heineken NV (HEIA)’s Rwandan unit posted a 63 percent increase in full-year profit as sales jumped.

Net income advanced to 10.3 billion Rwandan francs ($17.2 million) in the 12 months through December from 6.35 billion francs a year earlier, Brasseries et Limonaderies du Rwanda said in an e-mailed statement today. Revenue grew 16 percent to 52.8 billion francs “supported by higher volumes and increased pricing,” it said.

Profit was boosted by “strong top line growth and effective cost management, supported by a favourable economic backdrop and the consistent implementation of constructive government policies,” the company said.

Bralirwa, as the company is known, began trading its shares on the Rwandan Stock Exchange in January after holding the East African nation’s first initial public offering. The stock climbed 11 percent yesterday to 228 francs, according to the bourse.