East African Breweries limited (EABL) has posted a 27.7% drop in net profit to Ksh5.5 billion for the half year ended December 2016 compared to Ksh 7.7 billion posted in the same period in 2015.
The brewer’s net sales dropped by 6.2% to Ksh 35.1 billion as the company said this was as a result of increased taxation and foreign exchange fluctuations in its East African Market.
Operations from Kenya delivered flat sales with double digit growth in spirits and senator which had off set the impact of price increase of bottled beer.
Ugandan market registered a 7% growth in sales mainly driven by the good performance of emerging beer and spirits.
Generally, EABL’s parent company (Diageo) reported a growth of 4% in net sales in Africa and a 2% growth in operating Profits.
