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East African Breweries fiscal H1 profit climbs 5.1% YOY

East African Breweries Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 4.76 Kenyan shillings per share, an increase of 5.0% from 4.54 shillings per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.77 billion shillings, an increase of 5.1% from 3.59 billion shillings in the year-earlier period.

Total revenue increased 9.1% year over year to 34.77 billion shillings from 31.86 billion shillings, and total operating expenses rose 8.6% from the prior-year period to 25.78 billion shillings from 23.73 billion shillings.

Reported net income grew 4.9% from the prior-year period to 4.14 billion shillings, or 5.23 shillings per share, from 3.95 billion shillings, or 4.99 shillings per share.

As of Feb. 12, US$1 was equivalent to 91.60 Kenyan shillings.