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EABL Annual Report 2015

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EABL Annual Report 2015 EABL ANNUAL REPORT 2015 EABL ANNUAL REPORT & FINANCIAL STATEMENTS CONTENT 3 CONTENT 14 Net Sales Value Kshs5 (‘000,000) Profit Before Tax Kshs (‘000,000)8 BOARD OF 64,420 FINANCIAL 14,151 CHAIRMAN’S DIRECTORS 60,749 HIGHLIGHTS 10,390 STATEMENT 64,420 60,749 14,151 10,390 Earnings Per Share16Kshs Dividend Per Share Kshs 11.32 7.50 19 NOTICE OF ANNUAL 27 8.22 5.50 BRANDS GENERAL MEETING CUSTOMER FOCUS 11.32 7.50 NOTICE OF ANNUAL GENERAL MEETING 8.22 5.50 NOTICE IS HEREBY GIVEN that the accordance with Article 105 of the Articles of Association. NOTES: Ninety-Third Annual General Meeting of (iii) Ms. Carol Musyoka retires and being East African Breweries Limited will be eligible, offers herself for re-election held at Safari Park Hotel, Ruaraka, 1. Any Member who is entitled to attend in accordance with Article 105 of the Nairobi, on 5 October 2015, at 11:00 a.m. and vote at the Annual General Meeting Articles of Association. is entitled to appoint one or more proxies for the following purposes:- to attend and vote on his behalf. A proxy (iv) Dr. A. Shonubi retires by rotation need not be a member of the company. Ordinary Business and being eligible, offers himself for re-election in accordance with Article 2. In the case of a Member being a 1. To receive, consider and if approved, 106 of the Articles of Association. corporate, the proxy form must be adopt the Company’s audited financial completed under its Common Seal or statements for the year ended 30 June (v) Mrs. J. Karuku retires by rotation under the hand of an officer or attorney 2015, together with the reports of the and being eligible, offers herself for duly authorized in writing. Chairman, Directors and Auditors re-election in accordance with Article thereon. 106 of the Articles of Association. 3. Shareholders who do not propose to be at the Annual General Meeting are 2. To confirm the interim dividend of KShs 4. To approve an increase in the Directors requested to complete and return the 1.50 per ordinary share paid on 14 April Fees to a total of KShs 9,480,000 for all proxy form to the Company Secretary at 2015 and to declare a final dividend of Non-Executive Directors together. the registered office of the company or 2014 2015 KShs 6.00 per ordinary share payable, to the Registrars Custody & Registrars, 6 30 net of Withholding Tax, on or about the Floor Bruce House, Standard Street, P.O. 7 December 2015 to Shareholders on the 5. To appoint PricewaterhouseCoopers as Box 8484-00100 Nairobi so as to arrive Register at the close of business on 31 Auditors of the Company and to29 authorise not later than 2:30 p.m. on 3 November 35 August 2015. the Directors to fix the remuneration of the 2015, being not less than 48 hours before Auditors, so appointed. the time appointed for the meeting. COMMUNITY 3. To elect Directors: Duly signed proxy forms may also be OUR PEOPLE By Order of theSUSTAINABILITY Board emailed to [email protected] in (i) Mr. J. O’Keeffe retires and being INVESTMENT eligible, offers himself for re-election PDF format. in accordance with Article 105 of the R. T. Ngobi (Ms.) Articles of Association. Company Secretary 4. In accordance with Article 166 of the P.O. Box 30161-00100 Company’s Articles of Association, a copy of the entire Annual Report and Accounts (ii) D r . Nairobi may be viewed on and obtained from the György Geiszl retires and being 30 July 2015 eligible, offers himself for re-election in Company’s website (www.eabl.com). 38 CORPORATE 45 48 GOVERNANCE FINANCIAL DIRECTORS STATEMENT STATEMENTS REPORT Separate statement of financial position At 30 June 2015 2014 Notes Kshs’000 Kshs’000 Directors’ Report EQUITY Share capital 18 1,581,547 1,581,547 The Directors submit their report together with the audited financial statements for the year ended 30 June 2015 in accordance with section 157 of the Kenyan Companies Act, which disclose the state of affairs of East African Breweries Share premium 18 1,691,151 1,691,151 Limited (the ‘Group’ and ‘Company’). Capital reserve 39 (a) 25,616 25,616 Share based payment reserve 39 (b) 73,387 73,387 Principal activities Retained earnings 12,422,901 8,809,458 East African Breweries Limited is a holding Company with subsidiaries involved in the marketing, brewing/manufacturing Total equity 15,794,602 12,181,159 and selling of drinks, glass containers, malt and barley. Results and Dividend The Directors recommend a final dividend of KShs 6.00 per ordinary share payable, net of Withholding Tax, on or about the Borrowings 37 (b) 24,469,236 21,181,702 7 December 2015 to Shareholders on the Register at the close of business on 31 August 2015. Total equity and non-current liabilities 40,263,838 33,362,861 During the year an interim dividend of KShs 1.50 per share, amounting to a total of KShs 1,186,162,000 was paid. The REPRESENTED BY total dividend for the year is therefore KShs 7.50 per share (2014: KShs 5.50) amounting to a total of KShs 5,930,808,000 Non-current assets (2014: KShs 4,349,259,000) Property, plant and equipment 23 (b) 623,191 442,608 Prepaid operating lease rentals 26 (b) 1,265 1,335 Board of Directors Intangible assets - software 24 (b) 168,828 188,955 The following changes have taken place in the Board of Directors since the last Annual General Meeting: Investment in subsidiaries 27 29,053,949 29,844,237 Mr. E. Mwaniki and Mr. A. Fennell resigned from the board on 30 April 2015 and 30 June 2015 respectively. Other investments 28 10,000 10,000 Ms. T. Barnes resigned as Group Finance Director and Executive Director on 30 September 2015. Receivable from related parties 38 (b) 12,117,891 3,923,980 Mr. J. O’Keeffe was appointed as a Director on 1 July 2015 to fill a casual vacancy on the Board. Deferred income tax assets 22 (b) 961,741 850,983 Mrs. C. Musyoka was appointed as a Director on 24 September 2015 to fill a casual vacancy on the Board. 42,936,865 35,262,098 Dr. György Geiszl was appointed Group Finance Director and Executive Director on 1 October 2015. In accordance with Article 105 Mr. J. O’Keeffe, Dr. György Geiszl and Ms. C. Musyoka retire from the Board and being Current assets eligible, offers themselves for re-election. Dr. A. Shonubi and Mrs. J. Karuku retire by rotation and being eligible, offer themselves for re-election in accordance with Article 106 of the Articles of Association. Auditors The auditors, KPMG Kenya, will retire at the conclusion of the Annual General Meeting in accordance with Section 159(2) of the Kenyan Companies Act. The Directors recommend the appointment of PricewaterhouseCoopers as auditors subject to approval by shareholders at the next Annual General Meeting in accordance with Section 159(1) of the Kenyan Companies Act. Approval of financial statements The financial statements were approved by the Board of Directors on 30 July 2015. By order of the Board R.T. Ngobi (Ms.) Company Secretary 30 July 2015 WE ARE MORE THAN A CENSUS COUNT. More than a collection of 42 tribes. Much more than a bunch of individuals thrown together by chance. WE ARE A TEAM. A team that works together and wins together. A team that picks one another up and comes back stronger. A TEAM THAT BELIEVES TOGETHER. DRINKS TOGETHER, CELEBRATES TOGETHER, SUPPORTS TOGETHER. From music to sport. Business to the arts. Everywhere, we are a team. WE ARE, TEAM KENYA. And together we raise a glass and say ‘TWENDE KAZI, TEAM KENYA’ DIAL *896# AND RAISE A TUSKER TO THE TEAM E X CESSIVE CONSUM PTIO N OF ALCOH O L IS H ARMFUL T O Y O U R H E ALTH. STR I C TLY N O T FOR SALE T O P ERSONS UNDER 18 YE A R S . 2015 EABL ANNUAL REPORT & FINANCIAL STATEMENTS FINANCIAL HIGHLIGHTS 5 FINANCIAL HIGHLIGHTS Net Sales Value Kshs (‘000,000) Profit Before Tax Kshs (‘000,000) 64,420 14,151 WE ARE MORE THAN 60,749 10,390 A CENSUS COUNT. 64,420 More than a collection of 42 tribes. 60,749 14,151 Much more than a bunch of individuals thrown together by chance. WE ARE A TEAM. A team that works together and wins together. A team that picks one another up and comes back stronger. A TEAM THAT BELIEVES TOGETHER. 10,390 DRINKS TOGETHER, CELEBRATES TOGETHER, SUPPORTS TOGETHER. From music to sport. Business to the arts. Everywhere, we are a team. WE ARE, TEAM KENYA. And together we raise a glass and say Earnings Per Share Kshs Dividend Per Share Kshs ‘TWENDE KAZI, TEAM KENYA’ 11.32 7.50 DIAL *896# 8.22 5.50 AND RAISE A TUSKER TO THE TEAM 11.32 7.50 8.22 5.50 2014 2015 E X CESSIVE CONSUM PTIO N OF ALCOH O L IS H ARMFUL T O Y O U R H E ALTH. STR I C TLY N O T FOR SALE T O P ERSONS UNDER 18 YE A R S . 2015 EABL ANNUAL REPORT & FINANCIAL STATEMENTS ABOUT US 7 ABOUT US East African Breweries Limited (EABL) is EABL provides direct employment to over We work with a wide variety of suppliers, East and Central Africa’s leading branded 1500 people and indirect employment to including our farmers, to ensure that there alcohol beverage business.
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