Browsing: Diageo

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• EABL recorded strong topline and operating profit growth in a challenging market.
• Net sales totaled $958.3 million, up from $846.3 million in the FY ended June 2023, as the brewer defied tough macroeconomic conditions and evolving microeconomic factors.
• Profit after tax dropped to $84.2 million, down from $94.9 million last year.

East African Breweries PLC (EABL) has reported a 12 per cent drop in net profit for the fiscal year that ended June 30, 2024, as significant increases in interest rates and currency devaluation ate into the group’s earnings. East Africa’s …

• Aggressive marketing campaigns targeting the younger demographic are significantly driving the choice of drinks.
• Health consciousness is not just a buzzword; it’s a lifestyle shift that’s influencing the beverage market.
• The influence of social media and global trends have heightened consumer awareness of new products and flavours.

Innovation and cultural heritage intersect as Africa’s beverage market evolves in response to shifting consumer tastes and socio-economic currents.

From the cherished rituals of traditional tea and coffee to the burgeoning popularity of carbonated soft drinks and fruit juices, Africa’s beverage market is evolving, reflecting its diverse society and changing preferences.

The Middle East and Africa Functional Beverage Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028) report captures this dynamic evolution. It underlines key trends that are reshaping the way Africans quench their thirst.

Health benefits influencing Africa’s beverage market

One significant trend driving the beverage scene is …

• Counterfeits and the informal alcohol industry is increasingly eating into EABL’s mainstream market.
• EABL net sales remained flat in the year at $769.5 million, impacted by thinning disposable incomes.
• Uganda and Tanzania top line performance up 17% and 1% respectively, while Kenya declined by 4%.
• EABL’s final dividend decreased by 50% from $0.077 paid in FY’22 to a total dividend of $0.039.

A tough macro environment in East Africa is to blame for subdued earnings posted by the East African Breweries (EABL) for the year ended June 2023. Higher excise taxes, rising cost of inputs and effects of the difficult macro-economic environment saw the regional brewer record mixed performance in Kenya, Tanzania and Uganda markets.

The Diageo–owned biggest manufacturer of branded beer, spirits, and non-alcoholic beverages in East Africa reported a 21 per cent drop in net profit for the year. The giant brewer said its sales for …

• Diageo UK has announced that it has successfully completed the partial tender offer to acquire an additional 15.0% stake in East African Breweries Plc (EABL)
• Prior to the tender offer, Diageo Kenya PLC held 395.6 million shares out of the total 790.8 million outstanding shares, equivalent to 50.0% of the entire shareholding
• Following the completion of the Tender Offer, Diageo Kenya now holds the largest stake in EABL at 65.0% with 514.0 million shares

Diageo UK, through its wholly owned indirect subsidiary Diageo Kenya, has announced that it has successfully completed the partial tender offer to acquire an additional 15.0% stake in East African Breweries Plc (EABL).

Prior to the tender offer, Diageo Kenya PLC held 395.6 million shares out of the total 790.8 million outstanding shares, equivalent to 50.0% of the entire shareholding.

The tender offer comprised two phases with Diageo Kenya receiving valid tenders from 1,697 shareholders amounting …