East African Breweries PLC (EABL) reported double-digit net revenue growth in Kenya, Uganda and Tanzania for the quarter ended September 30, 2026. Volume growth in both beer and spirits drove the performance, continuing momentum from the year to June 2026. The update, issued on November 5, 2026, is unaudited, with half-year results due on January 29, 2027.
EABL said it delivered double-digit net revenue growth in each of its three main markets, measured in local currency terms, for the quarter ended September 30, 2026. Volume growth in both beer and spirits drove the result. The company said the performance sustained the momentum it built in the financial year ended June 30, 2026.
The update contains growth rates but no absolute revenue, profit or margin figures. EABL said the information is based on unaudited management accounts, so readers should treat it as an early indicator rather than a full financial picture. The detail on product mix, pricing and profitability will have to wait for the company’s formal results.
The announcement was prompted by an accounting change at the majority shareholder. Diageo plc has changed how it classifies EABL within its own accounts, and its first-quarter trading statement, published the same day, now includes EABL’s quarterly performance. EABL’s board issued its update so that the information would be public before Diageo’s accounts were published.
Reporting in local currency terms gives a clearer view of underlying performance. In East Africa, exchange-rate moves can change how earnings look when they are translated into dollars or shillings. Measuring each market in its own currency shows whether demand is growing, separate from currency effects.
Double-digit growth in all three markets suggests demand is not confined to one country. Kenya, Uganda and Tanzania face different economic conditions, so consistent growth across them points to steady consumer spending on beer and spirits. The release does not break the performance down by country or product, however, so the strength of each market remains unclear.
Volume growth is generally more durable than growth driven by price increases alone, because it shows customers buying more. The release does not separate price from volume in the revenue figures, though. Investors will want to see whether margins held as the company grew sales.
EABL will publish its half-year results for the period ending December 31, 2026, on January 29, 2027. Those results will give the full financial picture, including profit, costs and margins. They will show whether the quarterly momentum continued through the rest of the half-year.
The key dates to watch are January 29, 2027, when EABL publishes its half-year results, and the release of Diageo’s full accounts. Investors will be looking for whether volume growth continues, whether margins hold and whether currency movements change the reported picture.
