Nigerian Breweries grows revenue 5% to N1.10tn

Nigerian Breweries Plc has reported a robust performance for the nine months ending September 30, 2026, with revenue reaching N1.10tn, reflecting a 5% increase from N1.05tn in the same period of 2025. The company’s financial report reveals a notable 15% rise in gross profit to N477.9bn and a substantial 33% jump in profit after tax to N114.1bn.

Despite consumer disposable income constraints and improvement in macroeconomic stability, Nigerian Breweries expanded its market share, primarily driven by strong performances in the premium segment, particularly with brands like Heineken and Desperados. Operating activities contributed a 10% increase to N179.2bn, while profit before tax surged 33% to N171.7bn, aided by a 78% reduction in net finance expenses.

Notably, the brewing company returned to profitability in the standalone third quarter, posting a net profit of N21bn between July and September 2026, compared to a net loss of N4bn in the same period of 2025. Nigerian Breweries Plc's Managing Director and CEO, Thibaut Boidin, attributed the results to strategic execution amidst market strain.

He emphasized the company's resilience and disciplined execution of priorities, highlighting the growth in revenue, market position, and profitability. Despite challenges, the company strengthened its financial position through cash generation and effective working-capital management, positioning itself for continued growth momentum through cost control and portfolio investment.

Boidin expressed confidence in the company's strength and maintained a positive outlook for the full year 2026.