Habesha Brewery S.C., one of the beer brewing companies in Ethiopia, disclosed it made a net profit of 32 million Birr. This is unique for a brewery operating in Ethiopia as most manufacturers face loss in their first year of operation. For instance, Raya Brewery S.C. reported a loss of 104 million Birr on its first year of operation.
Habesha Beer commenced distribution on July 11, 2015, to Debre Birhan, Addis Ababa and Adama markets, Addis Fortune reported.
Habesha Breweries S.C sold 66,301 shares on November 16, 2013, following the company's decision to increase its capital to 550 million birr from the current 250 million birr , Fortune reported.
The Company issued 300,000 new shares and offered its existing shareholders 200,000 of the new shares without the premium, which is asked from new buyers, Fortune reported citing Yonas Alemu, Marketing & Business Development manager of Habesha Breweries.
Habesha Breweries S.C., one of the latest entrants to Ethiopia’s brewing industry, is considering to start producing new beverages.
Habesha Cement S.C. floated an international bid to buy 28 million cement bags. The bid will be closed in April and the company expects to receive the first shipment by July.
During the latest shareholders’ meeting, the company announced it would start trial production in October 2016.
