Business News
Nigerian Breweries Plc to pay 60 kobo interim dividend
Nigerian Breweries Plc report negative Q3 2018 result
Following the release of its Q3 financial results, Nigerian Breweries Plc has announced to pay an interim dividend of 60 kobo for the nine months ended September 30, 2018.
The interim dividend is 40 per cent lower than the 100 kobo interim dividend paid in the corresponding period of 2017.
Nigerian Breweries Plc had released its Q3 2018 interim financial results for the period ended 30th September 2018.
Revenue for the company dropped from ₦270 billion in 2017 to ₦254 billion in the year under review. This represents a 5.62% decrease year on year.
Profit Before Tax also dropped from ₦34 billion in 2017 to ₦22 billion. This represents a 34.7% decrease year on year.
Profit After Tax likewise dropped from ₦24 billion in 2017 to ₦14 billion. This represents a 38.4% decrease year on year.
The Earnings Per Share also dropped from ₦300 in 2017 to ₦185 in 2018. This represents a 38.3% decrease year on year.
Nigerian Breweries Plc closed at ₦88 on Friday’s trading session on the floor of the Nigerian Stock Exchange (NSE).
Nairametrics had reported how the management of the company tends to survive the Nigerian beer war. According to the management of the company, the company’s strategic plans are aimed at consolidating its market share in the country.
The company announced plans to consolidate on its position as the race in the beer market becomes stiffer in the face of intense competition, increasing cost inflation, and weak consumer spending.
Plans for its Premium lager segment
The company revealed plans to grow volumes in the premium lager segment using sales push of recently-launched Tiger Lager. The bottle will be offered in 450ML sizes (in contrast to the commonly available 600ML bottles) at pocket-friendly prices.
The stout segment
Nigerian Brewery management continues to maintain some level of presence in the stout segment with 20% of the market. The company says it expects to grow volumes of its stout brand in the country. The stout segment is dominated by Guinness with its Guinness Stout brand and it is guiding its stout market share aggressively.
The Malt segment
Nigeria Brewery’s malt segment has suffered in recent years, but the brewer still leads this space with its Maltina and Amstel Malta brands. The management stated that it will leverage on the increasing health consciousness (i.e the shift away from sugary carbonated drinks) of a cross-section of Nigerian consumers.
About Nigerian Breweries Plc
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.
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