Diageo East Africa Unit Profit Grows Less Forex, Debt Pain

East African Breweries Plc’s annual profit grew after two years of slowing earnings, as foreign-exchange losses dropped due to a stable Kenyan shilling and lower interest rates cut financing costs.

The Kenya-based unit of Diageo Plc reported profit for the year through end June of 12.2 billion shillings ($94.4 million), an increase of 12%, as net revenue climbed by 4%, according to a statement by the Nairobi-based company.