EABL posts Sh10.3b full year profit

East African Breweries Limited (EABL) has announced a seven percent increase in its full year net profit.

During the period ended June 30, the brewer’s net profit stood at Sh10.3 billion on improved spirit sales and recovery of the senator keg business.

The group’s revenues from Kenya grew 16 percent while Uganda grew by five percent and Tanzania by 12 percent.

However the ongoing war in South Sudan continued to negatively affect the company’s operations.

Cash flow from operating activities increased by 32 percent to Sh27.9 billion as a result of better than forecasted Senator volume coupled with efficient management of working capital.

Outgoing EABL Chief Executive Officer Charles Ireland said the results reflected an exciting year for the company.

“I am confident that the investment we have made in our systems, brands and people will help us to take full advantage of these opportunities. We will continue to focus on innovation and prudent cost management and remain flexible to anticipate and respond to external factors in the region,” Mr Ireland said.

The board has recommended a dividend of Sh5.50 per share.