Brewery records strong performance amid challenges |01 December 2015

The performance of the Seychelles Breweries Limited (SBL) for this year has been  a strong one despite a macro environment that remains challenging.

SBL chairman Simon Harvey made the remark while presenting his report for the year to the 47th annual general meeting of the company last weekend at the Ephelia Resort at Port Launay.

The meeting was to approve the minutes of the previous annual meeting; receive the chairman’s report and to adopt the directors’ and auditors’ reports together with the financial statement for the year ending June 30, 2015.

Present at the meeting were members the board of directors and the company’s stakeholders, who had the chance to voice certain concerns regarding the report and also suggested ideas for improvement.

In his report, Mr Harvey gave statistics on the brewery’s performance during the year which he described as a strong one but also where the macro environment remains challenging.

“The Seychelles economy as well as some major global economies such as China and the Eurozone slowed down. There were multiple conflicts and unrest on the world stage, a steady fall in the price of petroleum products and certain increase in some indirect taxes in Seychelles,” said Mr Harvey in the report, adding that a strong rupee also contributed towards that effect.

Regarding investments, Mr Harvey said the company has remained focused on the renewal of its ageing production plant, payment of the remaining invoices relating to bottling line, purchase of bottles and crates in anticipation of a growing demand, new blow moulder investment to remove an important bottleneck in the soft drink production process, IT and network upgrade to meet the new accounting system requirement and the installation of fire fighting systems.

SBL is also looking ahead. As it starts to resolve the supply capacity constraints and production issues, Mr Harvey said the brewery will capitalise on the commercial opportunities in the market.
“The brewery has already started doing so and has successfully delivered the first leg of their Route to Consumer strategy by outsourcing inner islands and Mahé on-trade distribution to third parties,” he said.

“The next leg is to refocus our commercial team or sales drivers activation and winning through better merchandising and brilliant execution in the trade,” said Mr Harvey.

Regarding capacity building within the company, Mr Harvey said the company’s strongest asset is its people and it has continued with tailor-made training with many of their staff attending courses outside of Seychelles in the year.

SBL’s annual general meeting on Saturday