{"id":12071,"date":"2020-07-31T18:18:17","date_gmt":"2020-07-31T18:18:17","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=12071"},"modified":"2020-07-31T18:18:17","modified_gmt":"2020-07-31T18:18:17","slug":"eabl-sales-tank-as-it-makes-sh7b-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit","title":{"rendered":"EABL sales tank as it makes Sh7b profit"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> East African Breweries Ltd\u2019s (EABL) beer and spirits\u2019 sales in Kenya declined by 37 per cent in the second half of the financial year 2020.<\/p>\n<p>The brewer, which enjoys 69 per cent market share, saw the reduction in consumption of its products offset a market gain of\u00a0eight per cent sustained in the first half of the financial year, the net effect being a 14 per cent decline in the entire year.<\/p>\n<p>Uganda, taking up EABL\u2019s market share of 16 per cent, also saw a decline of 21 per cent while Tanzania, whose restrictions were not as stringent had a 10 per cent gain in\u00a0the second half of the year.\u00a0As a consequence, the brewer announced a profit of Sh7 billion for the year ended June 30, 2020, a drop from the profit of Sh11.5 billion it made the previous year.<\/p>\n<p>The 39 per cent decline was attributed to reduced sales in on-trade channels as travel restrictions, outlet closures and social distancing requirements necessitated by Covid-19 impacted business negatively.\u00a0Bars and entertainment places were closed\u00a0as the government\u00a0battled the virus, which saw people\u2019s purchasing power take a hit, affecting sales of alcohol and related products.<\/p>\n<p>This saw a\u00a0nine per cent decline in net sales in the\u00a0year as first-half growth of 10 per cent was offset by a 29 per cent decline in the second half.<\/p>\n<p>EABL Group Chief Executive Andrew Cowan said the brewer tightly managed working capital in the last quarter, reducing discretionary expenditure and reallocating resources such as advertising and promotion spend to new and emerging channels\u00a0to serve\u00a0consumers safely.\u00a0He said the\u00a0interim dividend of Sh3 per share paid in April 2020 was the full and final dividend for the year.<\/p>\n<p>\u201cDuring this unwelcome pandemic, our top priority has been to safeguard the health and well-being of our people and support our communities, while taking necessary action to protect our business,\u201d he noted.<\/p>\n<p>\u201cAcross the markets, we have tracked changes in consumer behaviour and repurposed our execution plans in trade to continue serving our consumers.\u201d The brewer said it had partnered with logistics and e-commerce firms to survive Covid-19 scourge.<\/p>\n<p>EABL\u00a0said resource re-allocation and cost management resulted in\u00a0a nine per cent reduction in selling and administration costs, and\u00a0six\u00a0per cent reduction in cost of sales, softening the overall impact on the business.\u00a0The brewer contributed Sh120 million to the Covid-19 Emergency Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: East African Breweries Ltd\u2019s (EABL) beer and spirits\u2019 sales in Kenya declined by 37 per cent in the second half of the financial year 2020. The brewer, which enjoys 69 per cent market share, saw the reduction in consumption of its products offset a market gain of\u00a0eight per cent sustained in the first half [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":12072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[4932,4606,4963],"class_list":["post-12071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-andrew-cowan","tag-east-african-breweries-ltd","tag-profit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EABL sales tank as it makes Sh7b profit - kenya<\/title>\n<meta name=\"description\" content=\"East African Breweries Ltd\u2019s (EABL) beer and spirits\u2019 sales in Kenya declined by 37 per cent in the second half of the financial year 2020.The brewer,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EABL sales tank as it makes Sh7b profit\" \/>\n<meta property=\"og:description\" content=\"East African Breweries Ltd\u2019s (EABL) beer and spirits\u2019 sales in Kenya declined by 37 per cent in the second half of the financial year 2020.The brewer,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-31T18:18:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/eabl_sales_tank_as_i5f22db4ec3634.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"731\" \/>\n\t<meta property=\"og:image:height\" content=\"457\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EABL sales tank as it makes Sh7b profit\",\"datePublished\":\"2020-07-31T18:18:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\"},\"wordCount\":403,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/eabl_sales_tank_as_i5f22db4ec3634.jpg\",\"keywords\":[\"Andrew Cowan\",\"East African Breweries Ltd\",\"Profit\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/eabl-sales-tank-as-it-makes-sh7b-profit\",\"name\":\"EABL sales tank as it makes Sh7b profit - 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