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EABL reports profit surge
East African Breweries Ltd., the region’s largest brewer, said full-year profit surged 39% as revenue climbed on improved sales of its premium beers and spirits, reports Felix Njini of Bloomberg News.
Net income jumped to 9.58 billion shillings (US$94 million) in the 12 months through June from 6.86 billion shillings a year earlier, the Nairobi, Kenya-based company said in a statement handed to reporters today (July 31). Revenue grew 6.1% to 64.4 billion shillings, it said.
EABL, as the company is known, is 50.03% owned by Diageo, the world's largest premium drinks maker which happens to make Guinness in Nigeria.
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