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Browsing: Tanzania Breweries Limited
- 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 …