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East African Breweries Limited (EABL) recorded a 15% drop in its 2017/18 fiscal year, which stood at Ksh 7.3 billion, compared to Ksh 8.8 billion a year earlier.
The decrease in profitability was caused by a single tax bill of Ksh 2 billion, which masked the relatively strong performance of the brewer during the year.
EABL rebounded in the second half thanks to the increase in sales of beer and alcohol.
When the results were released, EABL Group General Manager Andrew Cowan said the decision to keep investing in its business in a volatile environment allowed revenues to rebound in the second half of the year. ;year. [19659002] "When many companies anchor and protect their investment profiles, I am pleased that my management team has pursued its growth investments as promised to our investors early in the year. When times were tough, it was our most robust and brave profile, "said Mr. Cowan.
AABL's performance was also supported by growth in Tanzania, which contributes to 11% of the turnover thanks to the strong sales of Serengeti beer.In accordance with his investment will, the brewer invests millions of dollars in new brewing tanks in his factory in Tanzania to take advantage of the consumer demand
Mr. Cowan stated that EABL saw the potential for growth in marketing The Kisumu brewery and the increased recruitment of bottled beer consumers.
"We believe that we will sell kings to the people of the Kisumu region and western Kenya before Christmas, "he said, hoping to go bolder in his productivity initiatives while seeking to support the growth momentum of the economy. ; Accele innovation
"We continue to make significant investments in our strategy even as we increase the quality and capacity of our products. We hope to see a significant contribution to the net sales value arising from innovation, "said EABL group chairman Charles Muchene
EABL's board of directors recommended a final dividend Ksh 5.50 per share.
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