NAIROBI, Kenya, Jan 31 – East African Breweries Limited (EABL) recorded a 20 percent increase in net profit to Sh8.1 billion for the half year ending December 2024, driven by lower debt, which dropped by Sh5 billion, and foreign exchange gains.
The brewer attributed the strong performance to improved cost management and reduced finance costs, which boosted overall profitability despite a challenging operating environment.
Investments in innovative product offerings and impactful marketing campaigns, among others, also boosted its net revenue to Sh67.9 billion, representing a two percent growth.
“Our strong performance this half underscores the resilience of our business and the agility of our teams. We have remained steadfast in controlling what we can and navigating challenges effectively,” Jane Karuku, Group Managing Director and CEO of EABL, said.
“This has allowed us to stay on course with our long-term strategy of delivering sustainable growth.”
Consequently, the EABL Board has recommended an interim dividend of Sh2.5 per share.
“EABL has continued to implement its strategy of embedding innovation and sustainability at the core of its operation,” EABL stated in a statement.
“In the first half, the company launched several new products tailored to meet evolving consumer preferences, including Snapp Dry Cider, Baileys Strawberries and Cream, Casamigos Tequila among others.”
