East African Breweries has announced a 40 per cent jump in profit for the year ending June 2015 to Sh9.6bn.
The brewer credited the growth in profits amidst harsh economic times in the region where it has a large presence to heightened sales for spirits and premium beers. EABL Group Managing Director Charles Ireland said the growth presents a brighter future for the beer maker after the recent tax revision on its low end market beer, senator keg.
“We are pleased with this performance and certainly our shareholders will equally be pleased given the overall economic conditions in the market. Our efforts to add value to our shareholders and clients however will be stepped up as we engage strategies to respond to the existing challenges including the depreciations in the east African currencies against the US dollars,” Mr Ireland said.
During an investor meeting held in Nairobi on Friday morning, the company also recommended an increase to KSh 6 per share dividend pay out.