Diageo's East Africa Unit Sees 38% Profit Hike on Lower Costs, Debt Reduction

Diageo East Africa's six-month profit jumped 38% due to lower finance costs. Net revenue increased 11% to 75.5 billion shillings ($86.8 million). The company recommends a 60% higher interim dividend of 4 shillings per share. Total debt was reduced by 2.2 billion shillings, contributing to lower finance costs. Diageo is selling its 65% stake in EABL to Asahi Group Holdings for $2.3 billion.