Business
Nigerian Breweries Records Strong Q1 Comeback with 186% Profit Growth
Nigerian Breweries Plc has recorded a robust recovery in the first quarter of 2025, posting a 186% surge in net profit, a major turnaround from its performance in the same period of 2024.
The company’s unaudited financial results, released on the Nigerian Exchange Limited on Thursday, revealed a sharp revenue increase to N383.6 billion for the quarter ended March 31, 2025 — a 68.9% jump from N227.1 billion reported in Q1 2024.
Operating profit saw a significant boost, rising by 238% to N85.3 billion from N25.3 billion a year earlier, highlighting improved operational efficiency and cost management.
One of the most notable shifts was the steep decline in net finance costs, which fell by 83% to N15.3 billion, compared to N90.8 billion in Q1 2024. This helped drive the company’s net profit to N44.6 billion, a dramatic reversal from the N52.1 billion loss it recorded during the same period last year.
Earnings per share also rebounded to 143 kobo in Q1 2025, up from a negative 627 kobo in Q1 2024.
The brewer’s total assets rose slightly to N1.14 trillion, from N1.13 trillion at the close of 2024. Its ongoing investment in infrastructure was reflected in a rise in property, plant, and equipment, which grew to N540.44 billion from N535.27 billion.
Although intangible assets and goodwill dipped slightly to N99.35 billion from N99.84 billion, the company’s investment portfolio grew to N150 million, reflecting a cautious but strategic approach to diversification.
Cash and cash equivalents fell to N93.08 billion from N150.59 billion, but inventory rose to N184.27 billion from N181.26 billion — suggesting improved supply chain and inventory management.
Shareholders’ equity increased to N506.70 billion, up from N463.03 billion in December 2024, buoyed by stronger retained earnings, which stood at N126.33 billion.
Nigerian Breweries also made progress in managing its liabilities, which dropped to N637.65 billion from N674.33 billion. Loans and borrowings were trimmed to N235.25 billion from N240.17 billion.
The board of directors thanked shareholders for their strong support, particularly during the company’s 2024 Rights Issue, which was 92% subscribed. The board credited this backing as crucial to Nigerian Breweries’ ongoing transformation and long-term growth strategy.
In its audited financial results for 2024, Nigerian Breweries reported a landmark revenue of N1.1 trillion, further strengthening its position as a key player in Nigeria’s manufacturing and consumer goods sectors.