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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Diageo plc    DGE   GB0002374006

DIAGEO PLC

(DGE)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 11/24 11:30:00 am
2902.75 GBX   -0.54%
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Kenya's East African Breweries first half after-tax profit up slightly

01/26/2017 | 12:18pm EST
A worker inspects beer bottles on a conveyor belt at the East African Breweries Ruaraka factory in Nairobi

NAIROBI (Reuters) - East African Breweries Ltd (>> East African Breweries Ltd) increased after-tax profit by 2 percent in its first half to the end of December, despite beer sales in its main market Kenya being hurt by tax increases, it said on Thursday.

NAIROBI (Reuters) - East African Breweries Ltd (>> East African Breweries Ltd) increased after-tax profit by 2 percent in its first half to the end of December, despite beer sales in its main market Kenya being hurt by tax increases, it said on Thursday.

The company, controlled by Britain's Diageo (>> Diageo plc), said in a statement that net sales in Kenya were flat while Uganda posted a 7 percent jump in sales.

It did not give absolute figures, but in the first half that ended December 2015, its after-tax profit from ongoing operations was 5.5 billion shillings ($53 million).

The company said Kenya makes up 70 percent of its profits, and this had been affected by tax hikes.

“There have been four major excise duty increases affecting bottled beer volumes in the last five years, with the most aggressive one taking effect in December 2015 – a 43 percent rise in duty," Andrew Cowan, its group managing director and chief executive, said.

"This was the highest excise duty increase in Africa," he said.

EABL said operating margins rose to 27 percent from 25 percent.

It recommended an interim dividend of 2 shillings a share, unchanged from the same period in 2015.

The company is due to release more details of its earnings on Friday.

(Reporting by George Obulutsa; Editing by Adrian Croft)

Stocks treated in this article : Diageo plc, East African Breweries Ltd

© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO PLC -0.53% 2903 Delayed Quote.-8.81%
DOW JONES AFRICA TITANS 50 INDEX 0.12% 498.16 Delayed Quote.-6.74%
EAST AFRICAN BREWERIES LIMITED 0.00% 155 End-of-day quote.-21.91%
NEXT PLC 1.98% 6808 Delayed Quote.-4.87%
RISE, INC. 0.00% 24 End-of-day quote.-20.00%
S&P AFRICA 40 INDEX 0.30% 161.47 Delayed Quote.-5.59%
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Financials
Sales 2021 11 808 M 15 766 M 15 766 M
Net income 2021 2 605 M 3 479 M 3 479 M
Net Debt 2021 13 305 M 17 765 M 17 765 M
P/E ratio 2021 26,1x
Yield 2021 2,40%
Capitalization 68 139 M 90 988 M 90 981 M
EV / Sales 2021 6,90x
EV / Sales 2022 6,46x
Nbr of Employees 27 788
Free-Float 90,8%
Chart DIAGEO PLC
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Technical analysis trends DIAGEO PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 2 984,93 GBX
Last Close Price 2 918,50 GBX
Spread / Highest target 25,4%
Spread / Average Target 2,28%
Spread / Lowest Target -26,3%
EPS Revisions
Managers
NameTitle
Ivan M. Menezes Chief Executive Officer & Executive Director
Javier Ferrán Larraz Chairman
Kathryn A. Mikells Chief Financial Officer & Executive Director
Alan James Harris Stewart Independent Non-Executive Director
Nicola S. Mendelsohn Independent Non-Executive Director
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