[ad_1]
East African Breweries Limited (EABL) maintained its dividend distribution rate despite a 14.79% drop in net income for the year ended in June.
Higher costs and higher taxes weighed on the NSE brewer. Net profit of 7.25 billion shillings in the period against 8.51 billion shillings a year earlier.
The company, controlled by Diageo, declared a final dividend of 5.50 shillings per share, unchanged from 2017, The total business figure of the year is 7, 50 shillings per share, as last year
The activity of bottled beer in Kenya and Tanzania, as well as the spirits sector, have helped to increase the revenues of AEL from 4.57% to 73.45 billion shillings. 19659002] The total cost of the company has risen 15.93% to 20.66 billion shillings, thanks to the expansion of its factories and the increase of promotional activities, said the brewer
"Profit after tax decreased by 15% exceptional tax provision, but a strong underlying performance According to the Director of Finance, Gyorgy Geiszl, a tax provision of 2 billion shillings has reduced his net profits
Andrew Cowan, general manager, said his substandard beer had suffered a 13 percent drop in sales due to political uncertainty in Kenya during the first half of 2018 and the temporary closure for an upgrade of its Nairobi-based Ruaraka plant The brewer has installed new ramps – equipment used to fill barrels or beers – during the upgrade of Sh 800.
Mr. Cowan stated that AABL's net spirits sales grew 8% year-over-year. the spirits portfolio (up 23%) while beer sales increased 4% due to growth in bottled beer.
"We are witnessing a strong return of the Senator Keg". The Kisumu plant is complete and is expected to be commissioned "later this year", paving the way for the creation of "more than 100,000 direct and indirect jobs".
"We spent 13 billion shillings in Sh7.8" EABL has already engaged more than 15,000 farmers to supply the new brewery of sorghum for the production of the Senator brand at low prices, allowing thus at EABL to take advantage of the recruitment opportunities of the Kisumu brewery, consumers of the illicit alcohol market, "added the brewer.
Source link
