Nigerian Breweries Profit Rises 33% to N114.1 Billion as Revenue Hits N1.1 Trillion

Nigerian Breweries Plc has reported a 33.4% enhance in revenue after tax to N114.1 billion for the 9 months ended September 30, 2026, in contrast with N85.51 billion recorded within the corresponding interval of 2025.

The brewing firm disclosed this in its unaudited interim monetary statements, which confirmed that web income elevated by 5.4% to N1.10 trillion from N1.05 trillion a yr earlier.

Profit earlier than tax rose by 32.6% to N171.68 billion, in contrast with N129.47 billion within the corresponding interval of 2025.

During the interval underneath evaluation, gross revenue elevated by 15.1% to N477.90 billion from N415.15 billion on the again of decrease manufacturing prices relative to income.

Cost of gross sales declined marginally by 1% to N624.76 billion from N631.23 billion to enhance the corporate’s gross revenue margin to roughly 43.3% from 39.7%.

However, promoting and distribution bills elevated by 24.3% to N240.94 billion, in contrast with N193.85 billion within the earlier yr.

Administrative bills remained comparatively steady at N59.85 billion, towards N59.58 billion recorded throughout the corresponding interval.

Despite the upper distribution bills, Nigerian Breweries recorded a 9.8% enhance in working revenue to N179.18 billion from N163.13 billion.

The firm’s monetary efficiency additionally benefited from a big discount in financing prices.

Finance prices declined by 61.3% to N11.20 billion from N28.90 billion, whereas finance revenue elevated to N3.70 billion from N1.32 billion.

Net finance prices, together with the impairment losses mirrored within the comparative interval, declined to N7.50 billion from N33.66 billion.

The enchancment in financing bills contributed to the corporate’s stronger pretax earnings throughout the nine-month interval.

Earnings per share elevated to 368 kobo, equal to N3.68, from 275 kobo, or N2.75, within the corresponding interval of 2025.

Meanwhile, the corporate’s third-quarter efficiency confirmed a restoration in profitability regardless of a decline in income.

Revenue for the three months ended September 30, 2026, declined by 3% to N298.98 billion from N308.24 billion a yr earlier.

However, the corporate recorded a third-quarter revenue after tax of N21.14 billion, reversing the N2.91 billion loss reported within the corresponding quarter of 2025.

The outcomes point out that improved gross margins and decrease financing prices helped Nigerian Breweries maintain earnings progress whilst income enlargement remained modest.

For traders, the corporate’s efficiency highlights stronger profitability, though rising distribution bills and weaker third-quarter income stay vital indicators to observe in subsequent reporting durations.