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EABL report  33% growth in half-year profit to Ksh 6.6bn

David Indeje is Khusoko’s Digital Editor, covering East African markets.
EABL report 33% growth in half-year profit to Ksh 6.6bn

East African Breweries Limited (EABL) registered a 33% growth in half-year net earnings to hit KSh6.61 billion, driven by strong performance across all segments and markets.

Net sales grew 13% to Kshs 41.6 billion. Growth was broad-based across segments and regions, as the business benefitted from lapping a weak half following the presidential election in Kenya.

Kenya and Uganda witnessed net sales increase by 12% and Tanzania up to 26%.

The beer segment grew 12%, driven by Senator Keg performance in Kenya, improved mix in Uganda and continued strong delivery of Serengeti in Tanzania.

Spirits grew 16% on the back of strong performance in mainstream spirits and Scotch whiskey as well as vibrant innovations.

EABL Group CEO, Andrew Cowan, said: “We have delivered a solid set of results and we are pleased with this half-year performance.”

“In the last financial year, we deliberately invested behind our performance ambition through a step-change in our investments behind brands, capital expenditure and capability to sustain future growth momentum,” Cowan said.

The listed brewer said its half-year interim dividend has been increased by 25% on the back of strong cash, offering a trailing dividend yield of 4.7%.

Books closure for the dividend is slated for 22 February 2019 to be paid 11th April 2019.

David Indeje is Khusoko’s Digital Editor, covering East African markets.

In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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