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EABL’s delivers 131% half-year profit growth – Kenyan Business Feed

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East African Breweries Limited (EABL)  net profit has more than doubled in the six months to December on the back of higher alcohol sales as Covid-19 restrictions eased, and bars re-opened.

The brewer’s net earnings jumped 130 percent to Sh8.7 billion from Sh3.79 billion booked in a similar period in 2020.

EABL Group chief executive Jane Karuku said the re-opening of bars in the second quarter boosted its total sales, which jumped to Sh54.9 billion, or 23 percent, for the period from Sh44.4 billion a year earlier.

“EABL’s performance for the half-year ended 31 December 2021 demonstrates a strong recovery from the impact of the Covid-19 pandemic that affected the last two financial years,” said the brewer in a statement on Thursday.

(L-R) Eric Kiniti, East African Breweries Limited (EABL) Group Corporate Relations Director, Jane Karuku, EABL Managing Director and Chief Executive Officer, Risper Genga Ohaga, EABL Group Chief Financial Officer and John Musunga Kenya Breweries Limited (KBL) Managing Director during the EABL Half Year 2021 financial results media briefing. EABL reported a net profit of Kshs 8.7billion. 

Revenues from Kenya grew 27 percent, followed by Uganda 18 percent and Tanzania at 15 percent.

The Nairobi Securities Exchange-listed firm has declared an interim dividend of Sh3.75 per share, resuming the payout after it had for the first time withheld it to conserve cash following the pandemic.

Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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