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Africa: East African Breweries Ltd (EABL) announced on November 13 that Top East African CEO's have yet again voted EABL, as the Most Respected Company in the region. The results were announced at a ceremony held at a Munyonyo Resort in Kampala on 13th of November. This is the fifth edition of a survey that has become a focal point of the region's business calendar, EABL said. The objective of the survey is to find out which companies East Africa's business leaders respect, and the reasons why.

According to the organizers, EABL has won this coveted title because of its "distinctive brands, strong leadership internally and at the market place, a long-term track record of growth, financial performance and delivery of shareholder value." Other key factors considered were a solid regional presence and a strong corporate social responsibility agenda. EABL has also been accredited with strong corporate governance values and integrity, and are recognized by its peers as being leaders in these areas.

Speaking during the ceremony, the Group Managing Director, Mr. Gerald Mahinda stated that the Group won this title because it has great people that work for the company. " Its because of our workforce that we have consistently demonstrated that we are an unrivalled group of the companies in the region of East Africa. We do work as a team and that's why we are able to achieve outstanding results".

During the last financial year ended June 04 the Group performed exceedingly well posting a pre-tax profit of Kshs 7 billion. Following this, EABL shareholders became the first in the region to earn dividends on bonus scripts and have until November 22 this year to benefit from a one for five share split meant to make the shares more affordable at the Nairobi Stock Exchange and the Uganda Security Exchange where the security is listed. The company is also seriously considering listing on the Dar es Salaam Stock Exchange (DSE). EABL already has a presence at the DSE through its 20 per cent holding in Tanzania Breweries Ltd.

Going forward the Group intends to continue in its pursuit of excellence in all its businesses throughout East Africa and consistently position itself as a truly iconic East African Company.


21 November, 2004