Champion Breweries Plc has declared an asset increase of N207 million in the year ended 2015, as against N26 million recorded in 2014.
Chairman of the firm, Dr. Elijah Akpan, at company`s 40th Annual General meeting held in Lagos, said, that the company is determined to sustain current growth and yield better profit, assuring shareholders of better dividends in the future.
The declared asset shows a 696% increase from the previous year.
Champion Breweries disclosed that Income increased to N3.5 billion in 2015 as against 3.3 billion in 2014, profit before tax was N210 million in 2015 away from N1.1million recorded in 2014 while, the gross profit was N207 million in 2015 as against N26 million recorded in 2014.
Dr. Akpan, predicted tense competition, based on the recent merging of brewing firms around the globe, stated that the situation would lead to gathering of more innovative ideas and introduction of new brands into the market.
“The company’s successful conclusion of debt re-financing, increase in production and sales volume of Champion Lager Beer as well as re-introduction of Champ Malta has resulted in positive turnaround of the business performances during the year.”
“Considering our present financial position from deficit to surplus, our company has the right mind-set and structures to achieve payment of dividend to you our dear esteemed shareholders in no distant time,”
“We shall explore the available possibilities the Nigerian business environment is offering to increase our market share within our business region,”
Shareholders responded by commending the management and urged the board to maintain the good financial result achieved.