Nigerian Breweries Posts Quarterly Pre-Tax Profit N16.62 bln

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Nigerian Breweries Plc has reported quarter ended June 2017 group revenue of N89.72 billion versus N79.82 year ago

Quarter ended June 2017 group profit before tax of N16.62 billion versus N10.54 billion a year ago

Heineken N.V’s unit in Nigeria, Nigerian breweries plc is reporting 43% rise in profit to NGN12.3 billion compared to NGN8.6 billion reported same period 2016.

Nigerian Breweries said it ended the quarter with NGN89.7 billion revenue in contrast to NGN79.8 billion recorded in the previous year while costs of sales was NGN48.9 billion against NGN43.1 billion in the year before.

The brewery said its gross profit increased to NGN40.7 billion from NGN36.7 billion posted in the previous year while operating profit rose to NGN20.1 billion from NGN15.9 billion in the financial year 2016.

Total asset for the period was NGN389.2 billion in contrast to NGN367.1 billion in same quarter 2016 while total liabilities was NGN211.2 billion versus NGN201.2 billion in the year before.

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