Home wines and spirits in Langata [Photo: Samson Wire] A new taste for gin has swept across Kenya. And in their war rooms, alcohol dealers are already high from the profits promised by the revolution. “Gin is exploding across East Africa,” said Andrew Cowan, outgoing chief executive of East African Breweries Ltd (EABL). The brewer’s […]
The FBN Holdings Plc has announced the appointment of Mr. Seni Adetu and Mrs. Juliet Anammah as independent non-executive directors. In addition, the group announced the appointment of Mr. Otu Hughes as a non-executive director. It, however, stated that the appointments were subject to the approval of the Central Bank of Nigeria. Speaking on the […]
A member of staff at the East African Breweries Ltd factory in Kenya. The company made good profits from its Tanzanian subsidiary. PHOTO | AFP The Tanzanian market once again had a stellar performance for East African Breweries Ltd (EABL), where the subsidiary registered a double-digit growth. EABL’s recent acquisition of an additional 30 percent […]
The East African Breweries Limited #ticker:EABL (EABL) estimates it will take a Sh14 billion hit should the proposed change to raise the minimum volume of alcohol in a bottle to 750 millilitres be adopted. The brewer says the loss will derive from write offs in existing machinery and purchase of new ones, changes in packaging […]
COVID-19: Passengers being screened for Covid-19 symptoms. Image: STEPHEN ATARIKO Kenya spent approximately $2.4 billion close to (Sh250 billion) by end of last year to fight the social-economic pressures of Covid-19, according to the latest International Monetary Fund (IMF) report. The summary of the country’s fiscal measures in response to the Covid-19 pandemic as compiled […]
Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA Safaricom’s market value at the Nairobi bourse has hit a new high as demand for the telco’s stock continues to outweigh supply. The firm’s valuation at the Nairobi Securities Exchange has risen by Sh104.17 billion year to date, closing yesterday at Sh1.476 trillion. The telecommunication […]
The sale of bottled beer and keg continues to be greatly dependent on the operations of night clubs, pubs and bars. In contrast, EABL marked growth in other portfolios with spirit sales for instance growing 11 per cent. Sales across East Africa were however unaffected growing all portfolios in spite of disruptions on operations of […]
The East African Breweries Limited (EABL) could not shrug off off effects of Coronavirus pandemic in second half of the year ending 31st December 2020 as net profits declined 47%. The brewer posted half year profit after tax of Kshs. 3.8 billion during the period when compared to Kshs. 7.2 billion it earned during the […]
Nairobi — East African Breweries Limited has recorded a 47 percent decline in net profit to Sh3.8 billion for the half-year ended December 2020 primarily driven by a one-off tax provision. The drop is also on account of excise duty increases, general price inflation, and additional costs related to digital tax stamp implementation in Uganda […]
NAIROBI (Reuters) – East African Breweries expects sales to recover from a coronavirus-induced slump in its second half to June, its outgoing chief executive said, as nations in the region relax measures to curb the spread of the virus. A worker inspects beer bottles on a conveyor belt at the East African Breweries Ruaraka factory […]
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