East Africa Breweries Limited posts 6% annual sales increase
Ventures-Africa.com - Oct 10th, 11:27
East African Breweries Limited (EABL) in August said it posted “good results” in the year to June despite tough operating conditions in markets such as Uganda and Tanzania.
The brewing firm said net sales surged 6 percent while operating profit grew marginally at 0.2 percent during the period under review.
Charles Ireland, the MD at EABL, said this performance was on the back of a robust brand portfolio in its stable.
Ireland said this performance was achieved in spite of weaker consumer economy in Uganda and the slackening alcohol market in Tanzania.
Ireland, speaking at a results presentation to analysts and journalists, said the company’s first-rate spirits portfolio sales soared 22 percent.
Ireland said in addition to this, the annual results were boosted by the company’s strategy of injecting capital in new markets, growing global business by 20 percent.
The company also consolidated its distribution system in the Great Lakes region and South Sudan.
EABL is a large East African brewing firm which owns Kenya Breweries and a majority stake of 98.2 percent in Uganda Breweries.
It also owns 100 percent of Central Glass, a glass manufacturer and Kenya Maltings. It also has a 46 percent shareholding in United Distillers and Vintners (Kenya) Limited.© 2013 Ventures Africa. All Rights Reserved
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