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Higher sales lift East African Breweries' pre-tax profit 36 pct

BUSINESS
By Reuters | July 31st 2015

NAIROBI, KENYA: Kenya's East African Breweries reported on Friday a 36 percent rise in pre-tax profit to 14.15 billion shillings ($138.52 million) in the year ended June, helped by rising sales volumes in its key markets.

The company, which is controlled by Britain's Diageo , attributed the gains to higher revenue, which rose to 64.42 billion shillings from 60.75 billion shillings.

Sales increased by 2-7 percent in its main markets Uganda, Kenya and Tanzania with exports to other markets going up by 48 percent, the firm said.

It also restated its prior year pretax profit to 10.39 billion shillings without immediately offering an explanation.

Earnings per share at the brewer rose to 11.32 shillings from 8.22 shillings a year before.

EABL, which also operates in South Sudan, said it will pay 6 shillings per share in dividend, up from 5.50 shillings the previous year.

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