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    Nairobi woman who beat up security guard in viral video denies assault charge

    Nairobi woman who beat up security guard in viral video denies assault charge

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    KUTRRH performs first CyberKnife treatment in sub-Saharan Africa

    KUTRRH performs first CyberKnife treatment in sub-Saharan Africa

    Main suspect in murder of Eric Maigo to be detained for 21 days

    Main suspect in murder of Eric Maigo to be detained for 21 days

    Maxine Wahome and Asad Khan fought occasionally, says neighbour

    Maxine Wahome and Asad Khan fought occasionally, says neighbour

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    10 arrested at Nairobi malls over suspicious photography

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    How serial swindler Lendrix Waswa evaded arrest in Sh1 billion gold scam

    How serial swindler Lendrix Waswa evaded arrest in Sh1 billion gold scam

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    Head of Public Service Felix Koskei orders Athi, Rift Valley water agencies to suspend their CEOs

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    KQ pilots’ strike paralyses air travel in Kenya

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    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

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    Apple unveils iPhone 15 with USB-C

    Apple unveils iPhone 15 with USB-C

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    Kenya exports 52 tonnes of omena to China

    Kindiki makes early morning surprise visit to Nyayo House

    Kindiki makes early morning surprise visit to Nyayo House

    itel launches new colour-changing S23 smartphone

    itel launches new colour-changing S23 smartphone

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    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Trace Awards goes interstellar as hot new artists join event line-up

    Trace Awards goes interstellar as hot new artists join event line-up

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    Usher to headline Super Bowl 2024 halftime show

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    President Ruto mourns ‘Sipangwingwi’ hit producer

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    #AfriVega: Your VIP access to celebrities and influencers

    Kate actress and Philip Karanja confirm end of marriage

    Kate actress and Philip Karanja confirm end of marriage

    Andrew Kibe’s YouTube account terminated

    Andrew Kibe’s YouTube account terminated

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    “Young, Famous and African” renewed for Season 3

    “Young, Famous and African” renewed for Season 3

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    #AfriVega: Your VIP access to celebrities and influencers

    #AfriVega: Your VIP access to celebrities and influencers

    Apple unveils iPhone 15 with USB-C

    Apple unveils iPhone 15 with USB-C

    itel launches new colour-changing S23 smartphone

    itel launches new colour-changing S23 smartphone

    OPPO Kenya launches Reno10 series with pro-level camera system

    OPPO Kenya launches Reno10 series with pro-level camera system

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    Google appoints Alex Okosi as new managing director for Africa

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    OPPO redefines photography with the sleek Reno10 series

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    Civil societies protest parliament’s petition to ban TikTok

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    Infinix Zero 30 5G live images, key specifications leaked online ahead of global launch

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    CAF awards Kenya, Uganda, Tanzania 2027 AFCON rights

    CAF awards Kenya, Uganda, Tanzania 2027 AFCON rights

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    Eliud Kipchoge bags 5th Berlin Marathon title

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    National Basketball Association to open office in Nairobi

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    Shujaa secures Olympic qualification with stunning win over South Africa

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    Ruto rallies Kenyans to attend Harambee Stars, South Sudan match

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    Former Man United player Paul Pogba suspended for doping

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    Kenyan Man United fan collapses after eating 15 boiled eggs in loss to Arsenal

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    Asernal fan killed over match against Man United

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    Fifa suspend Spanish football chief Rubiales over Hermoso kiss

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    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    OPPO Kenya launches Reno10 series with pro-level camera system

    OPPO Kenya launches Reno10 series with pro-level camera system

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    Superior Homes Kenya empowers girls to end period poverty through the Nuru initiative

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    Casa Vera set to host legendary band Les Wanyika

    Tecno opens new store at Garden City Mall in new expansion plan

    Tecno opens new store at Garden City Mall in new expansion plan

    Sebastien Ogier wins 2023 WRC Safari Rally

    Sebastien Ogier wins 2023 WRC Safari Rally

    Banseok Industry donates peanut peeling machines to 5 counties in partnership with KOTRA

    Banseok Industry donates peanut peeling machines to 5 counties in partnership with KOTRA

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    We can’t have a Safari Rally in Naivasha bila sherehe says Ababu Namwaba

    President William Ruto flags off WRC Safari Rally 2023 Shakedown in Naivasha – PHOTOS

    President William Ruto flags off WRC Safari Rally 2023 Shakedown in Naivasha – PHOTOS

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  • News
    Nairobi woman who beat up security guard in viral video denies assault charge

    Nairobi woman who beat up security guard in viral video denies assault charge

    Main suspect in murder of Eric Maigo to be detained for 21 days

    “We had a bitter argument that night”: Mother of suspect in Eric Maigo murder speaks

    KUTRRH performs first CyberKnife treatment in sub-Saharan Africa

    KUTRRH performs first CyberKnife treatment in sub-Saharan Africa

    Main suspect in murder of Eric Maigo to be detained for 21 days

    Main suspect in murder of Eric Maigo to be detained for 21 days

    Maxine Wahome and Asad Khan fought occasionally, says neighbour

    Maxine Wahome and Asad Khan fought occasionally, says neighbour

    Defile

    10 arrested at Nairobi malls over suspicious photography

    Governor Sakaja fires Mama Lucy hospital Board after woman lost her unborn baby at the hospital

    Nairobi plans to hike parking, mortuary fees in new Finance Bill

    How serial swindler Lendrix Waswa evaded arrest in Sh1 billion gold scam

    How serial swindler Lendrix Waswa evaded arrest in Sh1 billion gold scam

    Head of Public Service Felix Koskei orders Athi, Rift Valley water agencies to suspend their CEOs

    Head of Public Service Felix Koskei orders Athi, Rift Valley water agencies to suspend their CEOs

  • Business
    KQ pilots’ strike paralyses air travel in Kenya

    KQ to increases daily flights to London

    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Governor Sakaja fires Mama Lucy hospital Board after woman lost her unborn baby at the hospital

    Nairobi plans to hike parking, mortuary fees in new Finance Bill

    Fuel prices soar as government removes subsidies

    Fuel prices cross the Sh200 mark in new Epra review

    Apple unveils iPhone 15 with USB-C

    Apple unveils iPhone 15 with USB-C

    Kindiki makes early morning surprise visit to Nyayo House

    State mulls punishment for Kenyans who fail to pick up printed passports

    Kenya exports 52 tonnes of omena to China

    Kenya exports 52 tonnes of omena to China

    Kindiki makes early morning surprise visit to Nyayo House

    Kindiki makes early morning surprise visit to Nyayo House

    itel launches new colour-changing S23 smartphone

    itel launches new colour-changing S23 smartphone

  • Entertainment
    • All
    • Movie
    • Music
    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Casa Vera Lounge fined Sh1.8 million for posting customer’s image online without consent

    Trace Awards goes interstellar as hot new artists join event line-up

    Trace Awards goes interstellar as hot new artists join event line-up

    Usher to headline Super Bowl 2024 halftime show

    Usher to headline Super Bowl 2024 halftime show

    President Ruto mourns ‘Sipangwingwi’ hit producer

    President Ruto mourns ‘Sipangwingwi’ hit producer

    #AfriVega: Your VIP access to celebrities and influencers

    #AfriVega: Your VIP access to celebrities and influencers

    Kate actress and Philip Karanja confirm end of marriage

    Kate actress and Philip Karanja confirm end of marriage

    Andrew Kibe’s YouTube account terminated

    Andrew Kibe’s YouTube account terminated

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    “Young, Famous and African” renewed for Season 3

    “Young, Famous and African” renewed for Season 3

  • Tech
    #AfriVega: Your VIP access to celebrities and influencers

    #AfriVega: Your VIP access to celebrities and influencers

    Apple unveils iPhone 15 with USB-C

    Apple unveils iPhone 15 with USB-C

    itel launches new colour-changing S23 smartphone

    itel launches new colour-changing S23 smartphone

    OPPO Kenya launches Reno10 series with pro-level camera system

    OPPO Kenya launches Reno10 series with pro-level camera system

    Police halt Worldcoin registration at KICC over security concerns

    Worldcoin: Kenyans claim eyesight issues and missing payments

    Google appoints Alex Okosi as new managing director for Africa

    Google appoints Alex Okosi as new managing director for Africa

    OPPO redefines photography with the sleek Reno10 series

    OPPO redefines photography with the sleek Reno10 series

    Civil societies protest parliament’s petition to ban TikTok

    Civil societies protest parliament’s petition to ban TikTok

    Infinix Zero 30 5G live images, key specifications leaked online ahead of global launch

    Infinix Zero 30 5G live images, key specifications leaked online ahead of global launch

  • Sports
    CAF awards Kenya, Uganda, Tanzania 2027 AFCON rights

    CAF awards Kenya, Uganda, Tanzania 2027 AFCON rights

    Eliud Kipchoge bags 5th Berlin Marathon title

    Eliud Kipchoge bags 5th Berlin Marathon title

    National Basketball Association to open office in Nairobi

    National Basketball Association to open office in Nairobi

    Shujaa secures Olympic qualification with stunning win over South Africa

    Shujaa secures Olympic qualification with stunning win over South Africa

    Ruto rallies Kenyans to attend Harambee Stars, South Sudan match

    Ruto rallies Kenyans to attend Harambee Stars, South Sudan match

    Former Man United player Paul Pogba suspended for doping

    Former Man United player Paul Pogba suspended for doping

    Kenyan Man United fan collapses after eating 15 boiled eggs in loss to Arsenal

    Kenyan Man United fan collapses after eating 15 boiled eggs in loss to Arsenal

    Asernal fan killed over match against Man United

    Asernal fan killed over match against Man United

    Fifa suspend Spanish football chief Rubiales over Hermoso kiss

    Fifa suspend Spanish football chief Rubiales over Hermoso kiss

  • Events
    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    Oktobafest set for Kenya, Uganda, Tanzania, and South Sudan

    OPPO Kenya launches Reno10 series with pro-level camera system

    OPPO Kenya launches Reno10 series with pro-level camera system

    Superior Homes Kenya empowers girls to end period poverty through the Nuru initiative

    Superior Homes Kenya empowers girls to end period poverty through the Nuru initiative

    Casa Vera set to host legendary band Les Wanyika

    Casa Vera set to host legendary band Les Wanyika

    Tecno opens new store at Garden City Mall in new expansion plan

    Tecno opens new store at Garden City Mall in new expansion plan

    Sebastien Ogier wins 2023 WRC Safari Rally

    Sebastien Ogier wins 2023 WRC Safari Rally

    Banseok Industry donates peanut peeling machines to 5 counties in partnership with KOTRA

    Banseok Industry donates peanut peeling machines to 5 counties in partnership with KOTRA

    We can’t have a Safari Rally in Naivasha bila sherehe says Ababu Namwaba

    We can’t have a Safari Rally in Naivasha bila sherehe says Ababu Namwaba

    President William Ruto flags off WRC Safari Rally 2023 Shakedown in Naivasha – PHOTOS

    President William Ruto flags off WRC Safari Rally 2023 Shakedown in Naivasha – PHOTOS

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EABL profit sinks by 39pc as Covid-19 restrictions dent sales

Naihaps by Naihaps
July 30, 2020
in Business, Featured, News
Reading Time: 2 mins read

The East African Breweries Limited (EABL) has announced a 39 per cent dip in profit after tax for the year ending June 2020.

The Nairobi Security Exchange (NSE) listed firm has attributed the significant decline in earnings to a dent on sales observed in the past six months owing to Covid-19 restrictions.

The company has seen a nine percent decline in net sales with a 10 per cent first half growth being wiped out by a corresponding 29 percent decline marked between January and June this year.

EABL has seen is greatest hit to sales in Kenya with net sales declining by 14 per cent in the year having marked a 37 percent decline from partial lockdowns measures that left bars and restaurants closed.

The company meanwhile marked a 5 per cent decline in its Ugandan market from similar containment measures by government.

EABL Managing Director Andrew Cowan says the firm has been forced to manage working capital tightly in the last three months including the re-allocation of spending on advertising and promotion to emergency measures.

“During this unwelcome pandemic, our top priority has been to safeguard the health and well-being of our people and support our communities, while taking necessary action to protect our business. Across the markets we have tracked changes in consumer behaviour and repurposed our execution plans in trade to continue serving our consumers where safe and possible to do so,” he said.

EABL’s has however registered a saving grace in Tanzania where net sales have grown by 14 per cent from last year owing to the country’s limited restrictions to convert the Covid-19 pandemic.

The company is now focused on re-emerging strongly from the current crises and has since set aside Sh500 million to support the recovery of on-trade outlets in Nairobi, Kampala and Dar es Salam as part of its mother company-Diageo Sh10.7 billion ($100 million) ‘Raising the Bar’ global fund.

“Going forward, our market teams have put in place robust plans to help us emerge stronger from this crisis once the measures are eased across our markets. We will continue to execute with discipline and invest prudently to ensure we are strongly positioned for a recovery in consumer demand,” added Cowan.

Pushed by the decline in sales, EABL has adopted a cash conservation stance and its board has not recommended a final dividend to shareholders leaving April’s Ksh.3 per share interim dividend as the final pay-out.

The hold back marks a 64.7 per cent slide in shareholder pay from the total dividend pay-out of Sh8.50 registered last year.

Post Views: 9
Tags: Covid-19EABL
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