East African Breweries Limited ( NSE:EABL ) reported a marginal net profit drop in the year ended June as higher costs offset increased sales, with the company freezing dividend payouts to preserve capital. The firm’s net earnings in the review period stood at Sh6.96 billion compared to Sh7.02 billion a year earlier. “In recognition of […]
Foreign investors pulled out Sh1.09 billion from the Nairobi Securities Exchange (NSE) in July, marking the sixth straight month of net-selling despite the prevailing rise in the market wealth. Data by trading and corporate advisory firm AIB-AXYS shows that the foreigners bought shares worth Sh4.67 billion but sold others valued at Sh5.75 billion during the […]
East African Breweries Limited (EABL) recorded 15% growth in revenue to Kshs86.0 billion for the year ended June 2021. | THE INDEPENDENT | Profit before tax was up 2% to Ksh10.9 billion. The slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange impact and tax charges. EABL’s profit after […]
Kenya-based branded alcohol beverage business East African Breweries Ltd. (EABL) has reportedly acquired an extra 30% stake in Tanzanian subsidiary Serengeti Breweries Ltd. for USD 55 million, bringing its total ownership to 85%. The company had previously revealed plans to increase shareholding in Serengeti Breweries in March 2020, after identifying lucrative growth opportunities for spirits […]
EABL, majority-owned by UK’s Diageo, had disclosed plan to increase its stake in Serengeti Breweries in March 2020 after identifying the Tanzanian market as promising for growth of beer and spirits business. “We got one minority shares. We decided to buy them out and they also wanted to sell. The shareholding changed from 55 to […]
•Profit after tax however slightly dropped by one per cent to Sh7 billion, mainly impacted by cost inflation, tax and foreign exchange impact. •Canned beers have also played a key role driving the company’s sales in the wake of the pandemic, where bars and restaurants continue to operate on limited hours. Revelers at a night […]
Ms Jane Karuku, EABL chief executive. FILE PHOTO | NMG East African Breweries Limited (EABL) projects to restart dividend payouts this financial year on higher beer and spirit prices in a period when unit sales are expected to rise. EABL managing director Jane Karuku said the brewer’s profit margin is forecast to recover from effects […]
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investors pulled out Sh1.09 billion from the Nairobi Securities Exchange (NSE) in July, marking the sixth straight month of net-selling despite the prevailing rise in the market wealth. Data by trading and corporate advisory firm AIB-AXYS shows that the foreigners bought […]
Ory Okolloh and Virginia Wilson have been appointed as the Adecco Group Foundation ‘s first external Board members. The announcement was made by Alain Dehaze, the CEO of the Adecco Group and Chairman of the Adecco Group Foundation. Before joining the Adecco Group Foundation Board, Ory was the Managing Director of the Omidyar Network and […]
East African Breweries Limited (EABL) has narrowly missed a complete performance turnaround with its full year profit to June slipping by a single percentage point. The alcohol beverage manufacturer earnings have fallen by a narrow margin to Ksh.6.96 billion from Ksh.7.02 billion at the same stage last year. The negligible dip in performance is largely […]
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