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Home Markets Equities Company Results
Nigerian Breweries quotes additional series of Commercial Papers on the FMDQ Exchange 

Nigerian Breweries record 77% rise in profits after increase in beer prices

... the company’s profit was driven by significant sales of the reportable segments

Chidinma AnyalewechibyChidinma Anyalewechi
1 year ago
in Company Results
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Nigerian Breweries Plc has released its Q1 2022 results revealing a profit of N13.61 billion. This reflects a 77.73% increase year on year.

The period in review witnessed a persistent increase in prices of goods and services, thereby resulting in inflationary pressures that affected both consumers and producers.

Despite the double-digit food inflation, the Q1 2022 profit was supported by cost management practices as production costs increased by a single-digit.

Key highlight of the report

  • A cursory view of the result shows that the company’s profit was driven by significant sales of the company’s reportable segments.
  • Higher sales was largely sustained by increase in beer prices accompained by slightly higher volume sales.
  • The performance of the Company is also subject to seasonal fluctuations as a result of weather conditions and festivities.
  • This suggests that the festivities during the period under review pushed sales impressively high as Revenue improved by 30.37%.
  • In addition, the company also made money from interest on bank deposits to the tune of N73.5 million.
  • Also, the company made N859 million from its other income streams.
  • The company’s Advertising and sales expenses increased by about 96%, during the period. This suggests that the company has intensified its advertising and campaign efforts, which contributed to the impressive sales recorded during the period.
  • A further look at the financial results showed that the company’s long-term borrowing stood at N3.54 billion. The company’s total assets are now at N521 billion, while net assets grew 8.18% to N185.98 billion.

Nigerian Breweries Plc had declared a dividend of N1.20 kobo for FY 2021, which was paid on April 22, 2022, while Earnings per share for the Q1 2022 period is N1.69, a 74% growth from N0.96 in Q1 2021.

The company last traded at N58.85 per share and has appreciated by 17.70% from year to date.


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Tags: Nigerian Breweries Plc
Chidinma Anyalewechi

Chidinma Anyalewechi

For further inquiries about this article, contact: Email: chidinma.anyalewechi@nairametrics.com LinkedIn: linkedin.com/in/chidinma-anyalewechi-a323ab173/

Comments 2

  1. Mobolaji Muttalib Oladipo sarafa says:
    April 26, 2022 at 3:13 pm

    Stocs results.

    Reply
  2. Chigaa ifeanyi Sinclair says:
    August 29, 2022 at 10:00 pm

    That awesome

    Reply

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