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EABL HY 2014 results
murchr
#71 Posted : Thursday, May 08, 2014 5:21:10 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
BD wrote:
Beer maker East African Breweries Limited (EABL) is in negotiations with the Treasury over the excise tax slapped on Senator Keg last year causing a plunge in sales, Diageo president for Africa Nick Blazquez has said.


With 87 people dead of illicit brew the govt might just bend its own rule. Wacha tuone
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Metasploit
#72 Posted : Monday, May 12, 2014 12:26:52 PM
Rank: Veteran

Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
murchr wrote:
BD wrote:
Beer maker East African Breweries Limited (EABL) is in negotiations with the Treasury over the excise tax slapped on Senator Keg last year causing a plunge in sales, Diageo president for Africa Nick Blazquez has said.


With 87 people dead of illicit brew the govt might just bend its own rule. Wacha tuone


As we wait for the budget,EABL looks done with 300



I am watching this one.

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
2012
#73 Posted : Monday, May 12, 2014 1:02:32 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
murchr wrote:
BD wrote:
Beer maker East African Breweries Limited (EABL) is in negotiations with the Treasury over the excise tax slapped on Senator Keg last year causing a plunge in sales, Diageo president for Africa Nick Blazquez has said.


With 87 people dead of illicit brew the govt might just bend its own rule. Wacha tuone


I read that 5,000 Senator establishments have closed shop to date after the tax was introduced. I've never seen sin tax reduced so this would be a first.

BBI will solve it
:)
Chaka
#74 Posted : Monday, May 12, 2014 1:15:32 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
Sales of senator went down 70 pc so how much tax did treasury get?This tax thing backfired..
murchr
#75 Posted : Wednesday, August 20, 2014 5:45:19 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Metasploit wrote:
murchr wrote:
BD wrote:
Beer maker East African Breweries Limited (EABL) is in negotiations with the Treasury over the excise tax slapped on Senator Keg last year causing a plunge in sales, Diageo president for Africa Nick Blazquez has said.


With 87 people dead of illicit brew the govt might just bend its own rule. Wacha tuone


As we wait for the budget,EABL looks done with 300



I am watching this one.


the Star wrote:
BREWER Keroche Limited has urged the government to reduce, and not completely scrap tax, on low cost alcoholic drinks to create a level playing field.

In a memorandum presented to parliament's Finance, Planning and Trade Committee, Keroche argues that scrapping tax on low cost alcohol to fight consumption of illicit brews would be counter productive.

Keroche says the government needs to engage in a "delicate balancing act" of sustainably taxing the products in a way that makes them affordable to the low end market but still generating revenue to Treasury.

"Zero rating is not an option as it will imply a reduction on revenue collection with the spiral effect of increasing taxes, increasing prices and finally losing on the very war that we have persistently been fighting for," Keroche argues in that document.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Chaka
#76 Posted : Wednesday, August 20, 2014 8:54:47 AM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
It seems Keroche loves paying taxes...what of the farmers who were growing sorghum?The jubilee garment is even taxing the dead i,e orbituary announcements are being taxed VAT.
Tebes
#77 Posted : Wednesday, August 20, 2014 3:20:09 PM
Rank: Elder

Joined: 11/26/2008
Posts: 2,097
Chaka wrote:
It seems Keroche loves paying taxes...what of the farmers who were growing sorghum?The jubilee garment is even taxing the dead i,e orbituary announcements are being taxed VAT.



NOT REALLY.

Remission of excise duty on beer sold in Kegs used to benefit only EABL and as such Keroche has nothing to loose, and may have benefited from the decline in senator consumption/sales via its/her flagship products of Vienna and crescent spirits
"Never regret, if its good, its wonderful. If its bad, its experience."
Ericsson
#78 Posted : Thursday, October 02, 2014 2:01:15 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Just going through the EABL annual report and the company has quite a huge chunk of debt;
Borrowing from Diageo---ksh.22,294,103,000
Other Borrowings----ksh.12,545,500,000
Bank overdraft----ksh.1,758,425,000

Total Borrowings---ksh.36,598,028,000
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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