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Companies

EABL profit rises 6pc to Sh8.5bn on lower expenses

East African Breweries Limited Group Managing Director Andrew Cowan. PHOTO | SALATON NJAU | NMG
East African Breweries Limited Group Managing Director Andrew Cowan. PHOTO | SALATON NJAU | NMG  

East African Breweries (EABL) recorded a six per cent net profit growth to Sh8.5 billion in the year ended June, helped by cost-cutting and marginal sales growth, the company said in a statement ahead of their investor briefing.

The EABL declared a final dividend of Sh5.5 per share, raising the total payout for the year to Sh7.5 per share. This saw it maintain the payout at the same level in the prior year.

“I am pleased with these results, coming on the back of a fairly difficult trading environment for our business,” EABL managing director Andrew Cowan said in a statement.

“We demonstrated resilience delivering this solid set of financial results despite challenging times, mainly characterised by inflationary pressures and regulatory volatility.”

The EABL said its capital expenditure rose 14 per cent to Sh5.7 billion, reflecting increased investment in production.

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