• About Us
  • Contact
Wednesday, March 22, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Sectors Commodities

EABL’s profit rises 124%, net sales in Tanzania up by 21% on growth of Serengeti trademark

by Editor
28/07/2022
in Commodities, Markets
0
EABL’s profit rises 124%, net sales in Tanzania up by 21% on growth of Serengeti trademark
Share on FacebookShare on Twitter

East African Breweries PLC (EABL) has reported Kshs 109.4 billion in net sales for the full year ended 30 June 2022, representing a 27 percent growth compared to the same period last year, as the business marks 100 years of operations in the region.

EABL delivered a strong beer performance, up 27 percent, aided by the beer recovery in Kenya. The Group’s spirits category was up 26 percent, boosted by a 27 percent growth in mainstream spirits. Photo courtesy of EABL.

According to a statement seen by The Business Wiz, the group’s net sales were boosted by double-digit growth across all its markets and categories owing to an improved operating environment as outlets reopened, coupled with sustained investment behind marketing and commercial activities. EABL navigated rising inflation and increase in excise taxes through strategic pricing and effective cost management to deliver its highest profit in 5 years of Kshs 15.6 billion, up 124 percent.

EABL delivered a strong beer performance, up 27 percent, aided by the beer recovery in Kenya. The Group’s spirits category was up 26 percent, boosted by a 27 percent growth in mainstream spirits.

EABL Group MD and CEO, Ms. Jane Karuku, said: “EABL has delivered another set of consistent strong results across key metrics. These results reflect the high-performance culture we have created across the business, the rigorous execution of our strategy, the strength of our portfolio across categories and our agility in responding to emerging trends and insights.”

Ms. Karuku added: “Although these results show we are now ahead of our pre-COVID growth trajectory, the challenging macro-economic environment, volatile tax and regulatory policy will continue to impact our business. Yet, our sharp focus on executing against our strategy, supported by an external focus, data-led insights and a culture of everyday efficiency will help us navigate current and future headwinds. As we celebrate 100 years of EABL’s operations in the region, we believe we are well positioned to deliver sustainable long-term growth.”

Ms. Karuku said EABL’s Environmental, Social and Governance (ESG) agenda remained a key focus in the year with finalisation of the Kshs 5 billion biomass plant being a key milestone.

Tanzania Market Highlights:

Net sales grew 21 percent, driven by consistent growth of the Serengeti Trademark and an expanded brand portfolio.

Local production of spirits helped deliver further incremental growth, cementing the business as a total beverage alcohol player.

The Serengeti Breweries Managing Director Mark Ocitti Ongom Ocitti said: “Serengeti breweries is proud to have been part of EABL’s vibrant growth story. Our net sales grew by 21 percent driven by consistent strengthening of Serengeti trademark and an expanded portfolio of brands that continue to satisfy consumer’s across different categories and price points,”

He added, “As we look into the future our commitment is to continue investing in people and processes to ensure the business grows sustainably. As EABL celebrates 100 years of existence, we would like to thank all our stakeholders and more so our employees, customers and consumers in Tanzania for being part of our success and our strong heritage. Together, we will continue to live our purpose to celebrate life everyday everywhere”.

Editor

Editor

Next Post
Food crisis in Africa ‘can be averted,’ AfDB chief economist says

Food crisis in Africa ‘can be averted,’ AfDB chief economist says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 22 Mar.

Recommended

Finance and insurance activities up 9.9 pct in Q2 this year, new NBS data shows

Finance and insurance activities up 9.9 pct in Q2 this year, new NBS data shows

5 months ago
African markets build resilience in a challenging environment: Absa Africa Financial Markets Index

African markets build resilience in a challenging environment: Absa Africa Financial Markets Index

5 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili