Nigerian Breweries End Q1, 2018 on a Positive Note

Business News

“WITH a Profit after Tax of N10.2 billion recorded in the first quarter of 2018, the Board of Nigerian Breweries Plc is confident that the Company has a clear strategy to deliver a good return on investment for its shareholders.”

In a statement signed by Mr. Uaboi Agbebaku, Company Secretary/Legal Adviser, said: “The unaudited and provisional results released to The Nigerian Stock Exchange showed that the N10.2 billion represents an 11.8 percent decrease over the N11.4 billion recorded in the corresponding period in 2017.”

In the filing statement to The Nigerian Stock Exchange also said that the Company’s revenue dipped by 9 percent from N91.3 billion in 2017 to N83.0 billion in the current period.

Further analysis shows that results from operating activities declined by 8 percent from N19.2 billion in 2017 to N17.7 billion in the corresponding months in 2018. Profit before Tax also dropped by 12.6 percent from N17.4 billion in 2017 to N15.2 billion in the period under review.

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