Closed bars cost EABL a quarter of profits

COVID 19 has ravaged 25 percent of East African Breweries profits.
In a cautionary statement issued to shareholders, the firm predicted a bleak future in business, owing to the closure of bars, eateries, hotels, and other hospitality outlets.

“EABL’s current performance forecast indicates a decline in profit after tax of approximately 25% for the financial year ending 30 June 2020 versus the prior year.” The statement read.

Effectively, EABL is expected to massively retrench staff in a bid to remain in business.

COVID 19 preventive measures advocate for the social distancing of more than one meter.

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