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Tag: Nigerian Breweries

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Nigerian Breweries posts 81% turnover, hits N1.1tn in 2024

Nigerian Breweries Plc recorded significant growth in 2024, nearly doubling its turnover by 81% from N599.6 billion to N1.1 trillion. According to its audited financial report for the year ended December 31, 2024, gross profit rose by 51% from N212.6 billion in 2023 to N320 billion in 2024. Operating profit also saw a substantial increase […]

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Nigerian Breweries appoint first female board chair

Nigerian Breweries Plc has appointed Juliet Anammah as the company’s first female board chair. This marks a step forward in Nigeria’s major capitalized companies, which are increasingly achieving gender equality in their board leadership formations. Following its December 12 board meeting, Nigerian Breweries Plc announced the appointment of Juliet Anammah as the substantive board chair, […]

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Heineken suspends loan interest to Nigerian Breweries amid financial reform

Nigerian Breweries PLC has received significant support from its parent company, Heineken, which disclosed that it has suspended interest payments on loans to the Nigerian subsidiary, as part of its ongoing financial restructuring efforts. This was announced by the Managing Director, Hans Essaadi during the “Facts Behind the Rights Issue” event at the Nigerian Exchange […]

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Nigerian Breweries completes takeover of 80% stake in Distel

Nigerian Breweries Plc has announced the completion of the acquisition of an 80% controlling stake in Distel Wines and Spirit Nigeria Limited in an effort to increase the variety of products it offers beyond beer. This was disclosed in a notice filed by the Corporate Affairs Director of Nigerian Breweries, Sade Morgan with the NGX […]

Nigerian Breweries report N106bn loss
Business

Nigerian Breweries report N106bn loss

The country’s largest brewer, Nigerian Breweries Plc, has released its audited results for the year that ended on December 31, 2023. The findings show a net loss of N106 billion for the company, which was mostly caused by the devaluation of the naira’s effect on its foreign exchange transactions. According to The Times, the audited […]

Nigerian Breweries report N106bn loss
Business

Nigerian Breweries rakes in N402bn revenues in Q3 2023

Nigerian Breweries Plc reported N402 billion in revenue for the third quarter of 2023, according to the company’s unaudited financial statement, which was made public on September 31, 2023. According to The Punch, in comparison to the N393 billion reported in the similar period of 2022, this represented a two percent growth. The Company Secretary/Legal […]

Nigerian Breweries report N106bn loss
Business

Nigerians to pay more for beer – Nigerian Breweries

Nigerian Breweries has announced a price rise on all of their goods beginning on August 10, 2023, which is expected to have an impact on beer drinkers across the country. Nairametrics reported that this was revealed in a letter that stated that pricing needed to be reviewed in light of the ongoing increase in input costs […]

Nigeria Breweries suffers N70bn FX loss
Business

Nigeria Breweries suffers N70bn FX loss

Nigeria Breweries Plc recorded an exchange rate loss of N70.6 billion for the second quarter ended June 30th, 2023. This is according to the information in its recently released interim report for the first half of the year. Key highlights 2023 Q2: Net revenue N154 billion +13% YoY Gross Profit N68.4 billion +21.5% YoY Operating […]

Nigeria Breweries suffers N70bn FX loss
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Nigerian Breweries issues commercial paper of N25bn

Nigerian Breweries Plc has disclosed a proposal to raise N25bn through the sale of commercial paper to support the company’s short-term working capital and other finance needs according to a regulatory filing acquired by The Punch In a report titled “Series 4, 5 And 6 Of The Commercial Paper Programme” and signed by the Company’s […]

Nigeria Breweries suffers N70bn FX loss
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2.1bn Nigerian Breweries shares registered on SEC

The Securities and Exchange Commission has registered the 2,055,226,476 bonus shares that Nigerian Breweries shareholders authorized at an extraordinary general meeting on December 8, 2022. Nairametrics reported that this was made known in a corporate declaration that was issued to the Nigerian Exchange Limited. According to the statement, which was signed by the company secretary, Uaboi Agbbaku, […]