EABL profit dips 15 per cent on high costs, competition

KBL Managing Director Jane Karuku, EABL Group Managing Director Andrew Cowan, EABL Group Chairman Charles Muchene, EABL Group Finance and Strategy Director Gyorgy Geizsl at the announcement of the EABL full year results for FY18 at the Capital Club in Nairobi. [Paul Wafula]

East African Breweries Limited (EABL) has reported a 15 per cent drop in net profits for the year ended June 2018 as it struggles to grow its bottom line without selling assets.

The brewer said its profits after tax shrunk from the Sh8.5 billion it earned in 2017 to Sh7.2 billion in the year ended June 30 as a result of a “one-off tax provision”.