EABL | East African Breweries HY24 Earnings Note
EABL Group trailed under the impact of varied macroeconomic headwinds to post a 22.1% y/y decline in net earnings to KES 6.78Bn over the six months to December 2023. Profitability margins were compressed by a faster surge in operating expenses relative to net sales growth, coupled with an elevenfold jump in foreign exchange losses over the period under review.