East African Breweries PLC (EABL) profit for the full year ended June 2022 rose by 124 percent to Kshs 15.6 billion. The brewer’s net sales for the period rose by 27 percent year on year to 109.4 billion.
The company attributes the growth to double-digit growth across all its markets and categories owing to an improved operating environment as outlets reopened.
EABL’s beer performance was up 27 percent while its spirits category was up 26 percent, boosted by a 27 percent growth in mainstream spirits.
The company’s cash and cash equivalents up 82 percent to Kshs 8 billion as its capital expenditure went 40 percent to Kshs 12.3 billion.
EABL Declares Ksh 11.00 per share in Dividends
EABL’s board recommended final dividend of Kshs 7.25 per share (interim Kshs 3.75 per share), bringing the total dividend for the year to Kshs 11.00 per share. The company did not declare any dividends in the previous year.
Kenya remains EABL’s largest market, recording a 30 percent net sales growth, mainly supported by strong beer recovery and continued growth in spirits.
The Ugandan market posted a sales growth of 24 percent while net sales in Tanzania grew 21 percent, driven by growth of the Serengeti Trademark and an expanded brand portfolio.
READ; EABL Pays KSh673.8 Million to Bond Holders
