EABL half year net profit falls 28% after reduced beer sales

East African Breweries‘ net profit for six months ended December 31 fell 28 per cent on reduced sales of mainstream beer, the giant brewer announced on Friday.

The company said profit for the period declined to Sh5.6 billion from Sh7.7 billion in the same period la year earlier.

Net revenues from sales slumped six per cent to Sh35.2 billion.

Sales in mainstream beer, largely Tusker and Uganda’s Bell, reduced by seven per cent.

Mainstream spirits, largely Kenya Cane and Uganda Waragi, however rose 31 per cent.

Senator brand also posted growth because of affordability.”Spirits is a hot trend for consumers here in Kenya,” EABL chief executive Andrew Cowan told a press briefing in Nairobi. “Consumers are becoming more demanding and we are looking at satisfying them.”The company has retained an interim dividend of Sh2, same as last year.

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