Ethiopia's Awash Wine S.C announced that it has made over 90 million Ethiopian birr profit before tax in the concluded fiscal year. Rezene Hailu CEO of Awash Wine S.C made the announcement during the company's annual employees day.

Rezene said on the occasion that the company has earned 90.84 million birr profit before tax from the 6.4 million liters of wine produced in the budget year. The company’s profit before tax was only 1.5 million birr 15 years ago, he noted.

The joint efforts of the workers and the management staff as well as the various measures taken at all levels are the reasons behind the success of the company, the CEO said. This year’s celebration is unique as it coincided with the transfer of the company from the government to the privately owned company, Rezene said.

Awash Wine chair of Board of Directors, Teferi Demeke on his part said, the company has contributed a lot for the economic growth of the country. Employees of the company, the investor who bought the company and the government would benefit a lot in the future as the profitability of the company will continue with additional investment, Teferi added.

Source: Walta Information Center