Afdis bemoans proliferation of Illicit products and cheaper imports as volumes stagnate

M Valela

Afdis showed its numbers for the year that ended on March 31, 2024. They talked about how illegal products and cheap imports affected their business. They said their sales didn’t grow much, just 1%.

They also mentioned that there were more illegal products and imports from nearby countries that don’t follow the rules. This made it harder for local businesses like Afdis to compete.

Their ready-to-drink drinks went up by 5%, which is good because more people could find them in stores and they had more events for customers. But the sales of spirits went down by 2% because there were more cheap and illegal spirits around. The sales of wine stayed the same as last year.

They made more money overall, up 26% to $51.8 million, and their profit went up too, by 23% to $6.6 million.

But it was hard to compare to last year because of differences in money value and prices going up.

Afdis also had to deal with a new tax on sugar, which made things harder for them as they adjusted to the new rules. But they got some benefit from more transactions in US dollars, which made it easier for them to deal with foreign money.

They decided to pay out a dividend of $0.0060 per share to their shareholders.

The government is also trying to fight illegal products and drug use, putting aside at least $1.5 million for programs against drug abuse.

This could help companies like Afdis sell more because there will be fewer illegal products around.

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