EABL full-year profit drops by Sh3b as struggling Kenyans drink less

EABL CEO Jane Kabuku speaks when the brewer revealed Thursday its net profit dropped by Sh3.2 billion in the full year to June. [Wilberforce Okwiri, Standard]

The ongoing cost of living crisis in the country is affecting the way Kenyans partake in their beloved Kenyan staple that has long been considered to be immune to recession - beer.

This has emerged as East African Breweries Ltd (EABL) revealed Thursday its net profit dropped by Sh3.2 billion in the full year to June on the back of higher taxes and input costs, and as price-sensitive and broke consumers shunned the frothy drink.