EABL sales dip as consumers balk at higher prices
The volume of alcohol sold in Kenya is on the decline with sales data from the East African Breweries Limited (EABL) showing a four percent dip owing to inflationary pressures and a higher tax regime that has pushed up retail prices. Persistent geopolitical tensions fueled inflation-driven cost escalation, posing ongoing challenges to our manufacturing operations, said Dr. Martin Oduor-Otieno, EABL Chairman. EABL says excise tax escalation negatively impacted its price-sensitive mainstream segment in the trading period 2023. Renewed crackdown on bars in the counties also negatively affected the company’s sales which closed at Kes110 billion for the full year ended June 30, 2023, a similar…
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