03 February, 2006

Africa: East African Breweries posted Sh.307m profit

East African Breweries Ltd. (EABL) has registered a 307 million shillings pre tax profit for the six months ending December 2005, Kenya Broadcasting Corporation communicated on February 3. This reflects a marginal increase of 7 per-cent compared to a 23 percent increase in a similar period in 2004.

The group registered a 4.6 billion shillings in growth compared to 4.3 billion growth in a similar period in the previous year. The group’s Managing Director Gerald Mahinda and its Commercial Director Chris released the groups results at an investors briefing, Friday, 03 February 2006.
Mahinda said stringent cost controls and partnership with the Tanzanian and Ugandan breweries boosted profits.

Free cash flow however reduced from 7.5 to 6.5 billion shillings, an element attributed to high operation costs. He said their highest sales were recorded in December last year, adding that the alcobrew measure instituted by traffic police did not impact on their profits. The group has declared a 1.75 shillings interim dividend.

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