Nigerian Breweries grows revenue 5% to N1.10tn

Nigerian Breweries Plc has reported a robust performance for the nine months ending 30 September 2026, with revenue reaching N1.10tn, marking a 5% increase from N1.05tn in the same period last year. The company's financial report reveals a 15% rise in gross profit to N477.9bn and a 33% boost in profit after tax to N114.1bn. This success came despite a market where consumer disposable income remained tight, despite macroeconomic improvements.

The expansion of market share, particularly in the premium segment with Heineken and Desperados, played a crucial role. Operating activities grew by 10% to N179.2bn, and profit before tax increased by 33% to N171.7bn, aided by a substantial 78% reduction in net finance expenses. Notably, the brewery returned to profit in the third quarter, ending with a net profit of N21bn, compared to a N4bn loss in the same period last year.

Managing Director and CEO Thibaut Boidin attributed the performance to strategic execution under market pressure. He highlighted the business's resilience, the disciplined execution of priorities, and the strength of their portfolio, improved gross margins, and reduced finance expenses. The company also strengthened its financial position through cash generation and efficient working-capital management.

Looking forward, Boidin emphasized the company's commitment to sustaining growth momentum through cost control and portfolio investment, expressing confidence in the business's strength despite a challenging operating environment.