BY JOSHUA MUWANGUZI
Cross-listed East African Breweries Limited (EABL) reported that its new earning more than doubled for the last six months to December to sh261 billion (Ksh 8.7 billion).
The growth represents a 130% jump compared earnings booked for the similar period in 2020. The impressive bounce back in profitability was attributed to consumers return to pubs and bars as economies ease on stringent lockdown measures.
Net sales grew 23% to sh1.6 trillion (Ksh. 54.9 billion) driven investment in the brewer’s channels of innovation in response to customer behaviour shifts.
“EABL’s performance for the half-year ended 31 December 2021 demonstrates a strong recovery from the impact of the Covid-19 pandemic that affected the last two financial years,” said EABL Group chief executive Jane Karuku in a statement.
Revenues from Kenya grew 27%, followed by Uganda 18% and Tanzania at 15%.
The cross listed brewer has declared an interim dividend of Sh3.75 per share, resuming the payout after it had for the first time withheld it to conserve cash following the pandemic.