Browsing: EABL

• EABL net sales increased by 16 per cent to $408.39 million (KSh66.5 billion) in six months ending December 2023.
• The Group’s bottom line was negatively impacted by high input costs, inflation, Kenyan Shilling’s devaluation and escalating interest rates.
• Directors recommended an interim dividend of $0.01 (KSh1) per share, a reduction from the $0.02 (KSh3.75) paid last year.

A combination of macroeconomic factors, inflation and rising finance costs have seen  EABL profits suffer a 22 per cent decline to $41.5 million (KSh6.8 billion) in half-year ended December 2023 compared to similar period previously.

East African Breweries Ltd says the devaluation of Kenyan Shilling resulted in a forex loss of $14.1 million (KSh2.3 billion), an increase of $12.8 million (Sh2.1 billion) versus the same period last year.

Overall, the Group Managing Director and CEO Jane Karuku attributed the decline in EABL profits to increased input costs, currency devaluation, and rising interest rates.…

• 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 …

• East African Breweries PLC (EABL) has reported a profit of KSh 8.7 billion for the half year ended on December 31, 2022, at the back of the rising cost of operations, including an increase in taxes
• The company reported KSh 57.3 billion in net sales during the period, representing a 4 per cent growth compared to the same period in 2021
• The EABL Board has recommended an interim dividend of KSh 3.75 per share, similar to 2021’s period

East African Breweries PLC (EABL) has reported a profit of KSh 8.7 billion for the half year ended on December 31, 2022, on the back of the rising cost of operations, including an increase in taxes.

During the period under review, EABL reported KSh 57.3 billion in net sales during the period, representing a 4 per cent growth compared to the same period in 2021.

The group’s volumes declined by 4 per …

• EABL has reported KSh 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 per cent growth compared to the same period last year
• The group attributed the performance to double-digit growth across all its markets and categories owing to an improved operating environment
• Kenya delivered 30 per cent net sales growth, mainly on the back of strong beer recovery and continued growth in spirits – fuelled by premium and upper mainstream segments

East African Breweries PLC (EABL) has reported KSh 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 per cent growth compared to the same period last year, as the business marks 100 years of operations in the region.

The group attributed the performance to double-digit growth across all its markets and categories owing to an improved operating environment as outlets reopened and sustained investment …

• East African Breweries Plc (EABL) has announced plans to construct a microbrewery in Nairobi
• The microbrewery will serve as an innovation centre for alcoholic and non-alcoholic beverages
• EABL Managing Director Jane Karuku commissioned the construction and said the microbrewery would be completed and opened to the public by December 2022

East African Breweries Plc (EABL) has commissioned the construction of a microbrewery at Ruaraka, Nairobi, that will serve as an innovation centre for alcoholic and non-alcoholic beverages.

The regional brewer said that the facility would cost KSh 1 billion ($8.5 million) and comprise a microbrewery, taste room, taproom, and a flagship store.

Group Chief Executive Officer and Managing Director Jane Karuku commissioned the construction and said the microbrewery would be completed and opened to the public by December 2022.

According to EABL, the microbrewery will serve as a brand home for the company’s flagship beer, Tusker.

In addition, it will …

• East African Breweries Plc’s KSh 11 billion ($96.8 million) Medium-Term Note ranked among the top corporate deals done in Africa in 2021
• The Bond and Loans Awards usually recognizes the most innovative and ground-breaking deals from Sovereign, Corporate, and Financial Institution issuers and borrowers
• The bond was issued in October and saw investors bid KSh 37.9 billion ($333 million) in the issuing round, representing an oversubscription of 275%, a record for EABL

The Bond and Loans Awards has ranked East African Breweries Plc’s KSh 11 billion ( EABL ) ($96.8 million) Medium-Term Note among the top corporate deals done in Africa in 2021.

The Awards ceremony usually recognizes the most innovative and ground-breaking deals from Sovereign, Corporate, and Financial Institution issuers and borrowers.

It named the bond the Local Currency Corporate Bond Deal of the Year.

EABL Group CFO Risper Genga-Ohaga said issuing the bond was the right decision.

“When …

• EABL’s Group net sales grew 23% to KSh 54.9 billion, realised through strong organic growth across East Africa
• Profit after tax improved by 131% to KSh 8.7 billion, driven by margin expansion, prudent cost
  management, and volume recovery mainly in Kenya
• Cash and cash equivalents up 185% to KSh 7.2 billion, driven by increased net sales and robust working capital management

East African Breweries PLC (EABL) has reported KSh 54.9 billion in net sales for the half-year ended 31 December 2021, representing a 23% growth compared to the same period last year.

During the period, volumes grew strongly at 23%, driven by investment behind brands and innovation in the route to market in response to consumer behaviour shifts.

The continued investment in the capacity of KSh 6.2 billion enabled EABL to rapidly respond to the increased consumer demand.

The Group’s profit after tax grew 131% to KSh 8.7 billion, primarily …

East African Breweries Limited (EABL) has announced the commercialization of the Aliciana Barley Variety a year after it was launched.

The announcement was made during the Annual Field Day in Mau Narok following successful trials with farmers who have reported higher yields and greater resistance to waterlogging.

Raw material for KBL’s beers

The Field Day, an annual event that brings together stakeholders within the barley value chain, is a key event as stakeholders converge to learn, share experiences and showcase their products and innovations.

Barley is the main raw material for KBL’s beers.

Speaking during the event, David Kilesi, Chairman of the Barley Growers Association of Kenya, praised the variety.

“We have seen higher yields this season with the Aliciana variety compared to the previous varieties we had been planting. We would like to thank EABL for introducing this variety.”

EABL continues to invest heavily in research in an effort …