Africa: EABL posts 3% decline in full-year profit after acquiring Serengeti Breweries

East African Breweries (EABL) posted a flat profit before interest and tax (PBIT) of 12.245 billion shillings ($132 million), while pretax profit fell 3 percent, for the year ended June after absorbing a one-off cost to integrate its acquisition of Tanzania's Serengeti Breweries, Reuters reported on August, 26.

The firm, which is the largest by market value in east Africa and is controlled by Britain's Diageo , said net revenues increased 16 percent to 44.89 billion shillings and that it was maintaining its dividend at 8.75 shillings.

EABL's pretax profit dropped 3 percent to 12.249 billion shillings during the period from 12.569 billion a year earlier.

($1 = 92.750 Kenyan Shillings)

31 August, 2011