Covid-19 gulps EABL profits down by $28.7m

An employee of the East African Breweries Ltd checks beer quality before labelling at the company’s plant in Ruaraka, Nairobi. PHOTO | FILE | NATION MEDIA GROUP

What you need to know:

The management says measures put in place to contain the deadly pandemic will see net earnings fall sharply to about Ksh8.64 billion ($86.4 million).

More companies are expected to issue similar profit warnings as effects of the widespread economic shutdowns become apparent.