Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  NAIROBI STOCK EXCHANGE  >  East African Breweries Ltd    EABL   KE0000000216

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

East African Breweries Managing Director Resigns After Half-Year Profit Drops 14%

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/23/2013 | 02:38pm CEST

By George Mwangi

NAIROBI--The managing director of East African Breweries Ltd. has resigned a week after the company announced a 14% drop in its half-year net profit, the subsidiary of Diageo said in a statement.

Diageo is the largest shareholder of EABL, the biggest brewer in East Africa.

"Mr. Devlin Hainsworth will be leaving his position as Managing Director of EABL as of 31st March 2013 , in order to pursue other interests outside of EABL and Diageo," EABL Chairman Charles Muchene said.

Mr. Hainsworth has led EABL since July 2012 and had worked with Diageo for over 14 years holding various positions including managing director for Guinness Nigeria PLC and Guinness Ghana PLC. The EABL board has appointment Charles Ireland, who joined Diageo in 1997 after working with Nestle in Great Britain for 10 years, to replace Mr. Hainsworth with effect from April 1, the statement said.

Since 2006, Mr. Ireland was the managing director of Guinness Anchor Berhad, or GAB, in Malaysia, a joint venture between Diageo and Asia Pacific Breweries where he has overseen five successive years of growth in terms of volume, market share, revenue and profit, the statement said.

GAB is Malaysia's third largest consumer goods business and is listed on the Malaysian stock exchange with a market capitalization of over 1 billion pounds, the statement said.

On Feb. 15, EABL announced a 14% drop of net profit to shareholders to 3.75 billion Kenyan shillings ($43 million) in the six months to December 2012 from 4.38 billion shillings a year earlier, due to a growth in its financing costs.

"This followed the investments in the acquisition of a majority interest (51%) in Serengeti Breweries Limited, Tanzania, the acquisition of the minority interest in Kenya Breweries Limited, construction of a new brewery in Moshi, Tanzania, and investments in a mash filter in Uganda and a canning line in Kenya," EABL said in a statement.

EABL also plans to expand its market to South Sudan, Rwanda, Burundi and Congo.

Write to George Mwangi at realtimedesklondon@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EAST AFRICAN BREWERIES LTD
08/29 EAST AFRICAN BREWERIES : Farmers turn to sorghum in new deal
06/16 DIAGEO : Ugandan to head Uganda Breweries
04/28 EAST AFRICAN BREWERIES : Nairobi securities exchange dividend declaration file
04/26 EAST AFRICAN BREWERIES LIMITED : lawsuit attacked by Keroche Breweries
03/07 Kenyan traders eye big gains as S. Sudan joins regional bloc
01/28 EAST AFRICAN BREWERIES : EABL half-year profit hits Sh7.7bn on land, bottle plan..
2015 EAST AFRICAN BREWERIES : 2015 exploded with original and creatively scripted sho..
2015 EAST AFRICAN BREWERIES : Film Board Bans 'Pornographic' Durex, Trust Condom Ads
2015 EAST AFRICAN BREWERIES : Consol Glass Acquires 100% Stake in Central Glass Indus..
2015 EAST AFRICAN BREWERIES : Julie Adell-Owino fights to clear her name after corrup..
More news
Sector news : Brewers - NEC
09/30DJConstellation Brands Eyes $1 Billion Sale of Canadian Wine Business
09/30 ANHEUSER BUSCH INTERBREW : AB InBev to pay SEC $6 million to settle bribery char..
09/29DJSABMILLER : Elliott Capital Advisors, L.P Form 8.3 - Anheuser-Busch Inbev Sa/Nv
09/29DJSABMILLER : Elliott Capital Advisors, L.P Form 8.3 - Sabmiller Plc
09/29DJInvestors Approve Brewing Megadeal -- WSJ
More sector news : Brewers - NEC
Advertisement
Financials ( KES)
Sales 2017 70 699 M
EBIT 2017 20 131 M
Net income 2017 11 681 M
Debt 2017 23 686 M
Yield 2017 3,09%
P/E ratio 2017 21,25
P/E ratio 2018 18,45
EV / Sales 2017 3,44x
EV / Sales 2018 2,92x
Capitalization 219 835 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 319  KES
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Andrew Cowan Chief Executive Officer, Director & Group MD
Charles Kahara Muchene Independent Non-Executive Group Chairman
György Geiszl Group Director-Finance & Executive Director
Alan Shonubi Independent Non-Executive Director
Jane W. Karuku Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
EAST AFRICAN BREWERIES..2 174
ANHEUSER-BUSCH INTERBR..1.92%210 416
AMBEV SA12.01%95 171
SABMILLER PLC10.46%94 687
HEINEKEN-0.58%50 701
MOLSON COORS BREWING C..16.91%23 569
More Results