Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Why Nigerian Breweries offices were sealed briefly

Damilare Famuyiwa by Damilare Famuyiwa
November 15, 2018
in Company News, General News
Nigerian Breweries Plc
Share on FacebookShare on TwitterShare on Linkedin

The National Lottery Regulatory Commission (NLRC) briefly sealed Nigerian Breweries Plc’s Headquarters premises in Lagos and two of its offices in Abuja.

In a notice to the Nigerian Stock of Exchange (NSE), the pioneer and largest brewing company in Nigeria said the NLRC sealed its Abuja premises on November 13, 2018, and November 12, 2018, respectively.

Although, the offices in Lagos and Abuja have been subsequently unsealed by the NLRC on November 13, 2018.

Prior to this, the Nigeria Employers’ Consultative Association (NECA) on behalf of its member companies (including Nigerian Breweries Plc) had instituted an action in court against the Commission challenging the powers of the Commission to regulate consumer sales promotion in the country, as they form part of the marketing and sales activities of the concerned companies.

The court action is pending at the Court of Appeal.

The NLRC had demanded from the Nigerian Breweries, certain disputed fees on the Company’s consumer sales promotions, a demand the Company had resisted on the basis of the pending court action.

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 is currently trading N82.50 on the floor of the NSE.

Related

Tags: NECANigerian Breweries PlcNLRC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level
    • Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm
    • The SWOOTs capitalization declines w-o-w by N23 billion

    Follow us on social media:

    Recent News

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    May 22, 2022
    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    May 22, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com