Regional Brewer East African Breweries PLC (EABL) posted a solid performance in the six months ended December 31, 2025 underpinned by a stable macroeconomic environment, substantial sales growth and prudent cost management.
EABL reported an after-tax profit of KES 11.2 billion, up 37.4% from KES 8.1 billion recorded in a similar period. The profit growth was mainly supported by strong revenue expansion, operational efficiencies, and reduced finance costs.Net sales grew by 11.1% to KES 75.5 billion, driven by higher volumes, a strong product portfolio, and successful innovation execution, while net finance costs declined by 36.9% to KES 2.17 billion.
EABL’s Strong Balance Sheet
During the review period, the brewer’s cash and cash equivalents amounted to KES 17.7 billion, up by 5.5 million, highlighting robust revenue growth and improved working capital management. Total assets expanded to KES 90 billion from KES 87.3 billion in June 2025 while shareholder funds grew to KES 48 billion from KES 42.3 billion in June 2025.
Macroeconomic environment
During the period, inflation averaged at 4.5%, remaining within the Central Bank of Kenya’s (CBK) target range. The CBK Monetary Policy Committee (MPC) cut the Central Bank Rate (CBR) by 50 bps in two consecutive meetings, bringing the CBR to 9.00% in December 2025.
EABL took advantage of the declining interest rate environment by redeeming its KES 11 billion Medium-Term-Note issued in October 2021 and launching a KES 20 billion Domestic Medium-Term-Note program for general corporate purposes. The Kenya Shilling exchanged at KES 129 per U.S. dollar. Despite the favorable macroeconomic conditions supporting the firm’s strong performance, illicit brews continued to weigh on sales. The company stated that regulatory engagement is underway to promote enabling policies and targeted mitigation measures.
Dividend
EABL’s Board of Directors has recommended an interim dividend of KES 4.00 per share, up 60% from KES 2.50 in a similar period last year and the highest interim dividend in the company’s history. The dividend will be payable on or about April 30, 2026, to shareholders on the register at the close of business on February 20, 2026.
