East African Breweries Limited (EABL) has posted Sh. 10.3 billion net profit for the full year to June. This follows a 7 per cent growth in net profit that cam in the wake of a 27 per cent drop in sales of its Tusker beer.
Last year, EABL’s after-tax profits grew by 40 per cent to Sh9.6 billion, a jump occasioned by the sale of land at its Ruaraka headquarters and cost-cutting measures. Underlying profit at the time was up 16 per cent.
Cash from operations had increased by 32 per cent in the period to Sh27.9 billion as finance costs dropped by a fifth to Sh3.3 billion while revenue increased by three per cent to Sh66.4 billion. This increase was mainly due to a 134 per cent growth in the sales of Senator. “Senator grew in Kenya following the roll back of the duty increase early in the year and momentum was sustained throughout the year,” said Diageo, which owns 50.02 per cent of EABL.
