Nigerian Breweries Plc has notified the Nigerian Stock Exchange (NSE) the investing public of the appointment of Emmanuel Oriakhi as its new Marketing Director and a member of its Management Team.
Oriakhi’s appointment will be with effect from September 1, ,2018 and will be replacing Franco Maggi.
The newly appointed Marketing Director joined the company in 2003 as a commercial management trainee and has since held increasingly senior roles within the commercial function of the company.
In 2014, Oriakhi went on secondment to Heineken International as the Regional Marketing Manager Heineken (Africa, Middle East, and Eastern Europe). He was until his most-recent appointment, the Business Development Manager, Heineken Global Commerce (Africa, Middle East and Eastern Europe).
The company had announced the resignation of three of its top management members. Mark Rutten resigned as the company’s Finance Director. Hendrick Wymenga resigned as the company’s supply chain director while Franco Maggi resigned as the company’s Marketing Director.
Nigerian Breweries Plc had released its H1 2018 financial statements for the half year ended 30 June 2018.
The company reported a slight decrease in revenue of ₦95.2 billion for the period ended June 2018 compared to ₦95.4 billion reported for the same period in 2017. Profit before tax stood at ₦12.30 billion in 2018, a 26% decrease compared to a profit before tax of ₦16.62 billion reported for the period ended June 2017.
The company’s profit after tax for the half year ended 30th June 2018 was ₦8.23 billion, a 33% decrease compared to a profit after tax of ₦12.32 billion recorded in H1 2017.
Nigerian Breweries Plc also reported earnings per share of 103 kobo for the period ended June 2018 as against earnings of 154 kobo reported for the comparative period in 2017.
Nigerian Breweries Plc stock closed at N104.5 during trading session at the Nigerian Stock Exchange, up 0.48%.
The company is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa.
Nigerian Breweries was incorporated in 1946. Its first bottle of beer, STAR Lager, rolled off the bottling lines of its Lagos Brewery in June 1949.