East African Breweries Limited (EABL) has reported its full year financial results for the period ended June 2018 posting a 4.6 per cent growth in revenue to Ksh 73.5 Billion.
Net sales for the period grew by 10% on the back of strong growth in the spirits segment of the business which was up 23% while beer increased 4% despite a decline in Senator keg sales.
Cost of sales was up by 5% to Sh 41.1 Billion while Profit after tax declined by 15% due to a one-off tax provisions. Profit before tax fell by 12% to Sh 11.7 Billion. Total operating costs on the other hand grew by 16% to Sh 20.7 Billion.
“In the year, we have spent Kshs 13 billion in capital expenditure with Kshs 7.8 billion of that being spent on the Kisumu brewery. All these efforts have supported the results with Kenya, Uganda and Tanzania growing at 1%, 4% and 41% respectively.” EABL Group MD, Andrew Cowan noted.
The company’s board declared a final dividend of Sh 5.50 per share (Interim Div: Sh 2.50) to bring the total dividend payout to Sh 7.50. This is unchanged from the previous year. Books close 24th August 2018 while payment will be effected on 30th October 2018.
