EABL CEO Andrew CowanThe East African Breweries Limited (EABL) has recorded a 9 per cent decline in net sales for the financial year ended 30 June 2020, as the first half growth of 10 per cent was offset by a 29 per cent decline in the second half. The company attributed the second half decline to the impact of the Covid-19 pandemic which saw containment measures implemented across East Africa from late March 2020. Cowan said EABL focussed on managing working capital tightly in the last quarter, reducing discretionary expenditure and reallocating resources such as advertising and promotion (A&P) spend to new and emerging channels to serve consumers safely. We will continue to execute with discipline and invest prudently to ensure we are strongly positioned for a recovery in consumer demand,” Mr. Cowan said. Consequently, the interim dividend of Sh3 per share paid in April 2020 will be the full and final dividend for the year.

Source: Standard Digital July 29, 2020 15:41 UTC