Nigerian Breweries Plc has posted a solid first-quarter result for the period ended 31 March 2025 with a 69 percent year-on-year increase in revenue and a 186 percent rise in net profit.
The company attributes the robust performance to deeper market penetration, innovation, disciplined execution and the impact of its 2024 business recovery plan.
According to the unaudited and provisional results released by the Company on Thursday, the Q1 2025 revenue growth was supported by strategic pricing, strong commercial execution and improved customer engagement despite the persistent macroeconomic challenges in Nigeria.
The Group also cited supply chain efficiencies as a key driver of topline expansion.
Operating profit rose by 238 percent to reflect improved cost discipline, volume and value growth and the full benefit of recovery and process optimisation initiatives introduced in the prior year.
The result builds on the momentum gained in the final quarter of 2024 when the Company returned to profitability after a challenging period.
Net finance expenses dropped by 83 percent following the prudent deployment of proceeds from the 2024 Rights Issue which were used to reduce foreign currency liabilities and restructure the Company’s capital base.
This reduction in financing costs contributed to the Company’s bottom-line recovery and strengthened its financial position.
The transformation strategy introduced in 2024 continues to deliver results, Nigerian Breweries said portfolio optimisation, cost containment, rightsizing of operations and enhanced working capital management are all yielding measurable outcomes.
The Board noted that the Company remains firmly on track in executing its turnaround plan and laying the foundation for sustainable long-term profitability.
The Company expressed appreciation to its shareholders for their support, especially during the Rights Issue which recorded a 92 percent subscription rate.
Management said the capital raise was instrumental in restoring the Company’s financial resilience and growth trajectory.
Looking ahead, Nigerian Breweries acknowledged the challenges posed by inflation, low consumer spending and seasonal trends but reaffirmed its confidence in navigating the uncertain environment.
With a clear focus on agility, innovation and financial discipline, the Company said it remains well-positioned to sustain its growth and deliver shareholder value in 2025.
