allAfrica.com allafrica.com 29 Jan, 2021 07:00 am

Kenya: Tax Provisions, Covid-19 Related Restrictions Gulp EABL's Profits Down By 47%

East African Breweries Limited has recorded a 47 percent decline in net profit to Sh3.8 billion for the half-year ended December 2020 primarily driven by a one-off tax provision.

p Nairobi — East African Breweries Limited has recorded a 47 percent decline in net profit to Sh3.During the period under review, the brewer recorded a net sales decline of 3 percent to Sh44.EABL's spirits net sales grew by 10 percent, partially offset by beer net sales decline of 8 percent against the same period last year.Our greatest assets remain our brands and we have been able to adapt to the changing consumer needs while providing safe channels through which they have continued to enjoy our products, " Karuku said.

We have no doubt that the Raising the Bar programme will provide the much-needed shot in the arm for these outlets at a time when they most need our support," Karuku said.8 billion for the half-year ended December 2020 primarily driven by a one-off tax provision.

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