East African Breweries profits surge by 16%
Sep 02, 2008
EAST African Breweries (EABL) has registered a 16% increase in profits, Patricia Ithau, the venture managing director, has said.
By Winfred Kagwe and Sylvia Juuko
EAST African Breweries (EABL) has registered a 16% increase in profits, Patricia Ithau, the venture managing director, has said.
The group, the parent company of the Uganda Breweries, (UBL) released pre-tax profits of sh307.5b for the year ended June 30, up from sh265b earned the previous year.
“Despite setbacks like high fuel prices, inflation and the post-election violence in Kenya in the second half of our financial year, all our businesses have performed well and have sustained our market share,†Ithau explained.
She attributed the increase in sales throughout the region to massive product investment in promotions and innovations.
Ithau, who was speaking at an investor presentation at the Sheraton Kampala Hotel over the weekend, disclosed that the Senator brand registered the highest improvement with a 42% increase in volume distributed.
The brand targets the low income earners, mainly from the rural areas.
Ithau added that sh160b would be paid in dividends.
This would be more than the sh145b the regional beer giant paid its shareholders in 2007.
Ithau said the payout accrued after the company’s directors recommended a 10% increase in dividends payments of sh301.25 per share.
The EABL group consists UBL, Kenya Breweries, International Distillers Uganda, East African Maltings, Central Glass Industries and UDV Kenya.
Ithau said EABL had paid sh625b in taxes this financial year, up from sh575b, the previous year.
She said UBL contributed sh28.5b of the group’s total earnings.
EAST African Breweries (EABL) has registered a 16% increase in profits, Patricia Ithau, the venture managing director, has said.
The group, the parent company of the Uganda Breweries, (UBL) released pre-tax profits of sh307.5b for the year ended June 30, up from sh265b earned the previous year.
“Despite setbacks like high fuel prices, inflation and the post-election violence in Kenya in the second half of our financial year, all our businesses have performed well and have sustained our market share,†Ithau explained.
She attributed the increase in sales throughout the region to massive product investment in promotions and innovations.
Ithau, who was speaking at an investor presentation at the Sheraton Kampala Hotel over the weekend, disclosed that the Senator brand registered the highest improvement with a 42% increase in volume distributed.
The brand targets the low income earners, mainly from the rural areas.
Ithau added that sh160b would be paid in dividends.
This would be more than the sh145b the regional beer giant paid its shareholders in 2007.
Ithau said the payout accrued after the company’s directors recommended a 10% increase in dividends payments of sh301.25 per share.
The EABL group consists UBL, Kenya Breweries, International Distillers Uganda, East African Maltings, Central Glass Industries and UDV Kenya.
Ithau said EABL had paid sh625b in taxes this financial year, up from sh575b, the previous year.
She said UBL contributed sh28.5b of the group’s total earnings.