By Kepha Muiruri
The 123 per cent rise in earnings is primarily tied to the near full recovery of sales following the withdrawal of most COVID-19 related restrictions last year which had limited the operations of bars and entertainment spots.
Consequently, EABL’s net sales in the period have soared by 27 per cent to Ksh.109.4 billion from Ksh.86 billion previously from a notable improvement in the sale of beer and spirits.
At country level, Kenya led in the recovery of sales with revenues growing by 30 per cent ahead of Uganda’s 24 per cent and Tanzania’s 21 per cent.
The recovery in sales has also been flanked by continued innovation by the company and price increases in Kenya and Uganda based off excise duty adjustments.
The Group has kept growth in cost relatively muted in the period with administrative expenses and net finance costs growing by just 16.1 and 7.8 per cent respectively.
Selling and distribution costs were nevertheless up by 31 per cent at Ksh.9.7 billion.
EABL Group Managing Director Jane Karuku says the set of strong results mirror the company’s efficiency in executing strategy amidst shocks to the operating environment.
“While our business has performed strongly this year, we expect near-term volatility to persist. We remain sharply focused on executing against our strategic priorities supported by external focus, data-led insights, and a culture of everyday efficiency. We expect to deliver continued growth, sustained profitability, and consistent cash flow generation,” she said.
EABL’s board has declared a final dividend of Ksh.7.25 per share adding to an interim dividend of Ksh.3.75 as the manufacturer resumes the issuance of dividends at the full year stage after scrapping the pay-out last year.
This brings EABL’s total dividend for the period to Ksh.11 per share or a cumulative pay-out of Ksh.5.7 billion to be paid on or about October 30.
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