East African Breweries Ltd (NSE: EABL) 1H20 Earnings Note
East African Breweries Ltd (NSE: EABL) announced decent 1H20 numbers with an EPS growth of 7.4% y/y to KES 7.00, in line with expected KES 7.50 and a 20.0% increase in dividend per share to KES 3.00 as expected (trailing dividend yield 4.0%). Net revenue slightly lagged the expected growth of 11.3% to post a 10.3% y/y performance to KES 45.9Bn. We are pleased with the performance delivered under a constrained consumer spending environment and persistent tax hikes. At an upside potential of 14.3% we have an accumulate bias on our HOLD recommendation.
Genghis Capital is an innovative and customer focused Investment Bank licensed by the Capital Markets Authority (CMA). Founded in 2008, Genghis is one of the leading investment banks in Kenya. Since its establishment, Genghis has achieved tremendous growth to offer a well-diversified portfolio of financial services that includes:
- i. Securities(Equity/Debt) Trading
- ii. Research
- iii. Wealth Management services
- iv. Investment Advisory & Management via the GenCap Unit Trusts
- v. Corporate Finance & Transaction Advisory services
The Kenyan Capital Markets continue to develop in size, scope and sophistication. With this is an increasing demand for more specialized and personalized brokerage service and we at Genghis Capital are glad to be able to offer you this service. Our strength lies in ensuring our clients are up to speed with developments at the stock market and the economy. Research and technology remains our competitive and comparative advantage hence Experience, Expertise and Professionalism are some of the qualities you can expect from our team.
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