{"id":81785,"date":"2023-01-27T15:39:22","date_gmt":"2023-01-27T15:39:22","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn"},"modified":"2023-01-27T16:03:12","modified_gmt":"2023-01-27T16:03:12","slug":"eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn","title":{"rendered":"EABL maintains dividend as profit remains flat at Sh8.7bn"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>East African Breweries PLC (EABL) has reported a four percent growth in its net sales to record Sh57.3 billion for the half year ended 31 December 2022.<\/p>\n

During this period, Group volumes declined by four percent year-on-year, as price increases impacted consumer purchasing patterns, mainly in mainstream and value segments.<\/p>\n

The drop has been attributed to the imposition of excise tax for beer and spirits mid last year, and a tough macro-economic volatility and drought situation across East Africa, global inflation, and geo-political disruptions related to the Russia\/Ukraine war.<\/p>\n

\u201cThis was further compounded by excise-related price increases in Kenya, effected in July and October, which significantly affected consumption of our brands,\u201d said EABL Group Managing Director & CEO, Jane Karuku.<\/p>\n

In July 2022, Kenya\u2019s excise tax for beer and spirits came to effect following the 2022\/23 Budget, increasing by 10 percent and 20 percent, respectively.<\/p>\n

In October 2022, beer and spirits consumers were hit by a further 6.3 percent excise tax increase in the form of annual inflationary adjustment.<\/p>\n

These increases came on the back of an annual upward excise adjustment in 2021, leading to a compounded annual excise tax increase of 23 percent for beer and 34 percent for spirits.<\/p>\n

Consequently, beer volumes were down 13 percent in Kenya, with performance further undermined by a re- emergence of illicit alcohol during the period under review.<\/p>\n

As a result, EABL\u2019s net sales growth regressed by 1 percent in Kenya, its largest market, while Uganda and Tanzania grew by 19 percent and 11 percent, respectively.<\/p>\n

The Group\u2019s slower top-line growth resulted to Sh8.7 billion in profit, which was flat compared to the same period last year.<\/p>\n

The EABL Board has recommended an interim dividend of Sh 3.75 per share, similar to the same period last year.<\/p>\n

\u201cWe will continue executing our strategy to navigate the prevailing macroeconomic volatility, leveraging our portfolio of extraordinary brands, smart investment, fuelled by our culture of everyday efficiency\u201d said Karuku.<\/p>\n

During the period under review, the business continued to invest smartly behind brands, digital capabilities and consumer experiences.<\/p>\n

EABL also invested Sh5.5 billion in capital expenditure to extend production capacity and Environmental, Social and Governance (ESG) initiatives.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. East African Breweries PLC (EABL) has reported a four percent growth in its net sales to record Sh57.3 billion for the half year ended 31 December 2022. During this period, Group volumes declined by four percent year-on-year, as price increases impacted consumer purchasing patterns, mainly in mainstream and value segments. The drop […]<\/p>\n","protected":false},"author":84,"featured_media":81783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-81785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nEABL maintains dividend as profit remains flat at Sh8.7bn - kenya<\/title>\n<meta name=\"description\" content=\"East African Breweries PLC (EABL) has reported a four percent growth in its net sales to record Sh57.3 billion for the h ...\" \/>\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\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EABL maintains dividend as profit remains flat at Sh8.7bn\" \/>\n<meta property=\"og:description\" content=\"East African Breweries PLC (EABL) has reported a four percent growth in its net sales to record Sh57.3 billion for the h ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\" \/>\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=\"2023-01-27T15:39:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-27T16:03:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1674821367.68.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\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\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EABL maintains dividend as profit remains flat at Sh8.7bn\",\"datePublished\":\"2023-01-27T15:39:22+00:00\",\"dateModified\":\"2023-01-27T16:03:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\"},\"wordCount\":371,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1674821367.68.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/eabl-maintains-dividend-as-profit-remains-flat-at-sh8-7bn\",\"name\":\"EABL maintains dividend as profit remains flat at Sh8.7bn - 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