East African Breweries Plc (EABL) has reported a solid financial performance for the six months ending December 31, 2024, demonstrating resilience and strategic agility in navigating economic challenges. The company recorded a 2 percent revenue growth, reaching Kes. 67.9 billion, while profit after tax surged by 20 percent to Kes. 8.1 billion.
EABL’s performance was buoyed by easing inflation and currency appreciation in Kenya and Uganda, while Tanzania experienced a reversal in currency depreciation towards the end of the period. Lower interest rates across the region also contributed to a more favourable business environment. However, headwinds such as shrinking disposable income and rising input costs remained a challenge.
The company attributed its growth momentum to continuous investment in product innovation, impactful marketing campaigns, and enhanced route-to-market efficiencies. Notably, EABL reduced its debt by Kes. 5 billion, benefiting from lower interest costs and foreign exchange gains as the Kenya shilling
EABL Group Managing Director and CEO, Jane Karuku, emphasized the company’s adaptability and long-term growth strategy.
“Our strong performance this half underscores the resilience of our business and the agility of our teams. We have remained steadfast in controlling what we can and navigating challenges effectively. This has allowed us to stay on course with our long-term strategy of delivering sustainable growth,” Karuku said.
In light of the strong results, EABL’s Board of Directors has recommended an interim dividend of Kes. 2.50 per share.
EABL reinforced its commitment to innovation by launching several new products, including Snapp Dry Cider, Baileys Strawberries and Cream, and Casamigos Tequila, catering to evolving consumer preferences.
The company also advanced its sustainability agenda through Project Rudisha, a spirits bottle reuse initiative, and accelerated its water efficiency projects and biomass steam plants to align with environmental sustainability goals.
EABL’s robust half-year performance reaffirms its leadership in the regional beverage market. With a focus on innovation, operational efficiency, and sustainability, the company is well-positioned to navigate economic shifts and sustain long-term growth.