Kenya: East African Breweries posts 9% jump in first-half pretax profit
Kenya's East African Breweries (EABL) posted a 9% jump in pretax profit to 10.6 billion shillings (80.04 million pounds) for its first half to the end of December, it said on January 31.
The company, which is controlled by Britain's Diageo, reported a 10% rise in net sales to 45.9 billion shillings.
"We remain cautiously optimistic about our second half of the year, although unpredicted tax and regulatory changes and challenges in our operating environment continue to present potential risks," CEO Andrew Cowan said.
In Kenya, the brewer's biggest market, it registered an 8% rise in net sales driven by growth in mainstream spirits and Scotch whisky.
Faster sales of its low priced Senator Keg beer in Kenya also helped, the company said.
EABL also operates in neighbouring Uganda and Tanzania.
Torna
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .
