News Details

NIGERIAN BREWERIES EARNS N83.3b AND DECLARES N8b PROFIT FOR Q1 2019

  • Share

The Board of Directors of Nigerian Breweries Plc has announced a Revenue of N83.3 billion for the first quarter of 2019. According to the unaudited and provisional results filed at the Nigerian Stock Exchange, the Company also made a Profit after Tax of N8 billion during the period.

An analysis of the results shows that the N83.3 billion Net Revenue is a 0.4% growth over the N82.97 billion made in the corresponding period in 2018. The Q1 2019 Profit after Tax is lower than the N10.2 billion recorded in the same period in 2018, signifying a 21.4% decline.

In the statement signed by the Company Secretary/Legal Director, Uaboi Agbebaku said that the increase in Net Revenue was offset by higher excise duty following the excise duty regime introduced in 2018. Cost of Sales increased by 7.3% primarily driven by Raw Materials and Consumables while Marketing and Distribution expenses increased 7.9% over the same period in 2018. Administrative Expenses reduced by 12%, partially driven by the right sizing exercise undertaken by the Company in Q3, 2018. The impact of inflation and currency devaluation was minimized by the continued focus on cost efficiencies delivered through Cost Leadership initiatives.

According to Mr. Agbebaku, the 2019 operating environment so far, has shown similarities with the difficult environment witnessed in 2018. Notwithstanding, the Board remains confident that it has a clear strategy to deliver good return on investment.

Signed

Sade Morgan
Corporate Affairs Director,
+234 803 402 2730; sade.morgan@heineken.com

April 24th, 2019
life

Young Entrepreneurs Jostle for Life Continental Lager Beer’s N12.5 million Progress Booster Radio Show

As the maiden edition of Life Continental Lager Beer’s Progress Booster Radio Show prepares to go…

teacher

NB Plc launches Maltina Teacher of the Year

Nigerian Breweries Plc has launched the Maltina Teacher of the Year, an initiative to recognize and…

dividend-2017

NB Plc Declares N33b Dividend For 2017

The Board of Directors of Nigerian Breweries Plc has announced its results for the 2017 operating…

logo_news

NB Announces 9 Months Results For 2017, Declares 7.9b Interim Dividend.

The Board of Directors of Nigerian Breweries Plc has announced a revenue of N254.7 billion for…

Community Secondary

NB Plc Donates Ultra Modern Classroom Block To Community Secondary School Ogwofia Owa, Ezeagu LGA, Enugu State

Nigerian Breweries Plc, through its Felix Ohiwerei Eductation Trust Fund  recently donated a block of six…

Nigerian Breweries Plc Flags Off 7thgolden Pen Awards

Nigerian Breweries Plc Flags Off 7thgolden Pen Awards

Nigerian Breweries Plc has announced plans for the 7th instalment of its Golden Pen Awards. The…

nse-visit

NSE Commends NB Plc As New Managing Director Visits Lagos Floor

The Chief Executive Officer of The Nigerian Stock Exchange, Mr. Oscar Onyeama has commended Nigerian Breweries…

care-center

NB Plc Commissions Renovated Akerele Primary Health Care Centre

In line with its Winning with Nigeria corporate philosophy, Nigerian Breweries Plc., recently commissioned renovated facilities…

 

More News

Videos