East African Breweries Plc (EABL) has posted a strong set of unaudited half-year results for the period ended December 31, 2025, underpinned by higher revenues, improved profitability, and a strengthened cash position, allowing the group to significantly raise its interim dividend.

The growth was driven by higher sales volumes, improved pricing, and lower borrowing costs, allowing the brewer to strengthen its balance sheet and declare a higher interim dividend.

Net revenue rose by 11 per cent to Ksh.75.5 billion, supported by an 8 per cent increase in sales volumes, improved pricing, and reduced financing costs.

EABL Group Managing Director and CEO Jane Karuku: “In this current ecosystem this is a solid set of results, 8 per cent volume growth with great gearing at 11 per cent net sales and even a stronger gearing to profit after tax at 38 per cent to Kshs. 11.2 billion, underpinned by disciplined cost control, margin expansion, and reduced financing costs. We also strengthened our balance sheet, with total debt reducing by Kshs. 2.3 billion. Despite ongoing pressures on consumers, our teams executed with agility and precision across our markets, reflecting the strength of our brands, the relevance of our portfolio, and the clarity of our strategy.”

Commenting on the outlook, Jane Karuku added: “Global and regional trends are increasingly working in our favour. Consumers are gravitating towards trusted brands, local relevance, and quality experiences, while East Africa’s youthful demographics and accelerating digital adoption continue to unlock new growth opportunities, enabling us not only to respond to change, but to shape it.”

Risper Genga Ohaga, Group Chief Financial Officer & Executive Director, EABL said: “We have grown beer by nine per cent and spirits by 16 per cent and across the countries Jane has shown you, at a reported level Kenya is growing at 2 per cent, Uganda 13 per cent and Tanzania at 44 per cent.”

The company says the performance reflects a gradual economic recovery across East Africa, with easing inflation, falling interest rates, and relatively stable currencies.

However, it cautioned that household spending remains constrained and input costs are still elevated. EABL also reported a stronger balance sheet after reducing total debt by Ksh.2.3 billion, helped by lower borrowing costs and tighter cost controls.

“Another line we are really proud of is the work we have done on our finance costs. This has been a pain point for a few years given the level of debt coming out of Covid as well as the rising interest rate regime,” added Risper Genga Ohaga.

The board has proposed an interim dividend of Ksh.4 per share. Meanwhile, the brewer has confirmed that the proposed sale of Diageo’s shareholding to Asahi Group Holdings remains on track, pending regulatory approvals, with completion expected in the second half of 2026.