NB posts N1tn net revenue in H1, clears debt

Nigerian Breweries Plc disclosed a significant financial breakthrough in the first half of 2026, emerging debt-free and displaying robust cash generation capabilities. The company's Finance Director, Maria Karaseva, reported that the brewing giant achieved net revenue surpassing N1tn during the six-month period, while maintaining an asset base of approximately N1tn.

Karaseva highlighted a remarkable 264% increase in the company's cash performance, generating N73bn in net free operating cash flow compared to the corresponding period in 2025. This remarkable performance allowed the firm to settle all outstanding loans, resulting in zero borrowings at the end of the reporting period. Karaseva also emphasized the company's internal productivity program, which yielded N76bn in efficiency gains and led to a two percentage point increase in gross profit margin.

These measures, according to Karaseva, effectively mitigated the impact of macroeconomic pressures, contributing to an 18% year-on-year growth in profit before tax.