H1 2022: Nigerian Breweries Records N274.03 Billion Profit

For the half year ended June 30, 2022, the Nigerian Breweries Plc has recorded a total revenue of N274.03 billion.

This reflects a 31 percent increase in revenue compared to N209.22 billion recorded in the corresponding period of 2021.

During the period under review, the company also recorded a Profit After Tax (PAT) of N19.08 billion during the period.

The results also revealed Profit After Tax for the six-month period under review rose by 142.8 per cent, from N7.86billion to N19.08billion.

Similarly, basic earnings per share in H1 2022 was 237 kobo as against 97 kobo that was recorded in H1 last year.

According to a statement signed by the company secretary/Legal Director, Uaboi Agbebaku, the company’s increase in profit was driven mainly by top line growth resulting from its pricing strategy and better mix.

"Despite these challenges, our business continues to build momentum and deliver consistent profitable growth even in the context of a very challenging operating environment.

"Our best-in-class portfolio of brands provides a unique platform that positions us well to lead and grow the beer and malt category and drive superior long-term value creation,” the statement added.