Nigerian Breweries Grows Nine-month Profit by 24%

Nigerian Breweries PLC
  • Nigerian Breweries Grows Nine-month Profit by 24%

Nigerian Breweries Plc has reported about 24 per cent appreciation in its profit before tax for the nine-month ended September 30, 2017.

The brewer’s PBT rose from N27.8bn to N34.4bn while profit after tax also improved to close at N23.9bn from the N20.1bn posted in the same period in 2016.

The board of directors of the firm, in its filing with the Nigerian Stock Exchange, announced a revenue of N254.7bn for the period.

It further declared an interim dividend of N7.996bn, which is, N1 per ordinary share of fifty kobo in the share capital of the company.

An analysis of the unaudited and provisional result showed that results from operating activities grew from N37.9bn to N42.3bn.

While commenting on the results, the Company Secretary/Legal Adviser, Nigerian Breweries, Mr. Uaboi Agbebaku, said, “Despite the continued challenging business environment, revenue in the first nine months of the year grew compared to the corresponding period in 2016.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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