Earnings up at Accra Brewery

Accra Brewery Limited, (ABL) recorded earnings growth of 28 percent for the half-year ending 30th September 1997. Mainly, lower operating costs and depreciation helped profits of 821 million cedis. ABL's net revenues increased a meager 3.4 percent to 11.6 billion from 11.2billion cedis in the previous years. This was due to a decline in the larger market where ABL holds a dominant position. Operating margins rose 15.7 percent while net margins rose 5.7 percent. A drop in interest charges could also be a positive sign for the bottom-line figure of this highly leveraged company.