EABL profit rises to Sh11.5b

A worker checks beer bottles on a conveyor belt at East African Breweries Ltd’s Ruaraka factory. [PHOTO: FILE/STANDARD]

The East African Breweries Limited (EABL) has posted Sh11.5 billion profit after tax for its full year financial results ended 30th June 2019 up from Sh7.3b posted same period last year.

The Company attributed the growth of the profit to increased revenues and cost efficiencies driven through productivity initiatives.

EABL’s net revenue for the period rose by 12 per cent to Sh82.5 billion driven by underlying performance on the back of a stable operating environment in the region.

The Groups volumes grew by 11 per cent driven by strong performance across all categories and markets.

Innovations contributed to Sh20.3 billion to stand at 24 per cent of the net revenues across its markets mainly driven by brands such as Serengeti Lite, Tusker Cider, Chrome Vodka, Captain Morgan Gold and Uganda Waragi Pineapple.

The Group’s capital expenditure stood at Sh11.7 billion with the completion of the new Kisumu brewery.

The Board of Directors has recommended a final dividend of Sh6.0 per share. The total dividend for the year Is Sh8.5 per share.