NB posts N1tn net revenue in H1, clears debt

Nigerian Breweries Plc has achieved a significant financial turnaround in the first half of 2026, emerging debt-free and reporting a robust net revenue exceeding N1tn. The company's Finance Director, Maria Karaseva, disclosed this remarkable progress during an investor call, highlighting the firm's strategic recovery from earlier operational difficulties.

In the six-month period, Nigerian Breweries generated an impressive N73bn in net free operating cash flow, marking a staggering 264% increase compared to the same period in 2025. This surge in cash performance enabled the company to fully settle its outstanding loans, resulting in a debt-free financial position heading into the reporting year.

Karaseva attributed the company's financial success to several key factors, including an internal productivity programme that delivered N76bn in efficiency gains and a two percentage point improvement in gross profit margins. These measures proved crucial in mitigating the impact of macroeconomic pressures and sustaining an 18% year-on-year growth in profit before tax.

By focusing on disciplined cost management, working capital optimization, and sustained productivity gains, Nigerian Breweries has built a stronger balance sheet and a more resilient financial foundation. The company remains committed to these strategies, aiming to continue driving volume growth, reducing foreign-exchange risk exposure, and mitigating inflation through enhanced operational efficiency.