The East African Breweries Plc (EABL) has reported a 20 percent rise in net earnings to KES8.1 billion in the six months ended December 2024. 

EABL Board has recommended an interim dividend of KES2.50 following the strong performance during the half where the brewer said it cut interest cost, and reduced its debt by KES5 billion while also registering forex currency gains on account of strengthening Kenya shilling.

“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," said Jane Karuku, Group Managing Director and CEO of EABL.

The period under review witnessed easing inflation and currency appreciation in Kenya and Uganda, contributing to improved business conditions, EABL said. 

In Tanzania, the initial currency depreciation at the start of the half reversed towards December as the Tanzanian Shilling gained ground. Interest rates across the region also showed a downward trend, further supporting recovery. Despite these positive shifts, some challenges prevailed including shrinking disposable income and input cost inflation impacting the cost of doing business.

The brewer's net revenue increased by 2 percent to KES67.9 billion compared to the same period last year and a volume growth was marginal at a percentage point. 

In the first half, the company advanced sustainability initiatives such as Project Rudisha, the business’s Sprits bottles reuse initiative, accelerating its water efficiencies and use of its biomass steam plants, aligning with its commitment to environmental stewardship and contributing to the broader goals of circular economy.

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