East African Breweries Limited #ticker:EABL (EABL) net profit has dropped to six-year low on state closure of bars to contain Covid-19 spread, forcing the brewer to freeze final dividends.
The brewer Wednesday announced a 39 percent drop in net profit to Sh7 billion for the year ended June 2020 with net sales for the second half of the year having plunged by 29 percent. The latest performance is in contrast to the Sh11.5 billion net profit posted in the previous financial year and is the lowest since 2014 when it posted net profit of Sh6.85 billion.
