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East African breweries limited to let go hundreds of employees in coming days

14th February, 2014

Beer and spirits manufacturer East African breweries limited has announced plans to downsize as the effects of taxation hits home. Addressing journalists this morning, the company says it will be letting go of hundreds employees in the coming days. This it says follows a drop in sale of its end of the market senator keg drink that has been adversely affected by the coming to force of new excise duty regime. The listed firm says it has witnessed 85 per cent drop of sales after it was forced to review the cost of the drink upwards, while releasing its first half of the year report, chief executive officer noted the firm had posted a marginal five pr cent increase on profits before tax.