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

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.