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East African Breweries Limited (EABL) maintained its distribution rate despite a 14.79% decline in its profit net for the year ended in June.
Tax expenditures weighed on the NSE-listed brewer, who reported net profit of 7.25 billion shillings over the period, compared with 8.51 billion a year earlier.
The company, controlled by Diageo, declared a final dividend unchanged from 2017, bringing the total dividend of the year to 7.5 shillings per share, as last year.
The activity of bottled beer in Kenya and Tanzania, as well as the spirits segment, helped to increase AABL's business turnover rose 4.57% to 73.45 billion shillings.
The total cost of the company jumped 15.93% to 20.66 billion shillings, thanks to the expansion of its factories and increased promotional activities. Profit after tax fell 15% as a result of a financial director, Gyorgy Geiszl, said that a tax provision of 2 billion shillings had reduced his profit.
19659004] "General Manager Andrew Cowan said his low-end cask beer suffered a 13 percent drop in sales due to political uncertainty in Kenya during the first half of the year. in the year 2018 and temporary closure of a Ruaraka plant in Nairobi The brewer installed new ramps – equipment used to fill barrels or beers – during the upgrade of Sh 800. [19659004] Mr. Cowan said that AABL's net spirits sales grew 8% year-over-year.the spirits portfolio (up 23%) while beer sales rose by 4%, due to the growth of bottled beer.
"We are witnessing a resurgence of Senator Keg." Kisumu plant is completed and 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 hired over 15,000 farmers to supply the new brewery with sorghum for the production of the Senator brand at low prices, allowing EABL to take advantage of the recruitment opportunities of the brewery of Kisumu. consumers of the illicit alcohol market, "added the brewer.
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