Nigerian Breweries reports 38% increase in profit to N7.7billion in Q2 2021

Nigerian Breweries Plc has reported 38% increase in its unaudited financial results for the second quarter of the year ended June 30, 2021.

According to the results, revenue for the period was N209.3 Billion. (+37.8% YoY)
Cost of sales was N131.3 billion. (+41.7% YoY)
Marketing, distribution and administrative expenses totalled N58.63 billion. (+32.0% YoY)
Profit for the period was N7.72 billion. (+38.1% YoY)
Earnings per share of 96 kobo Vs 71 kobo YoY.

Commenting on the results, the Board said: ‘’The impact of Coronavirus (Covid-19) pandemic on the economy and by implication, the Company, continued during the period under review. Our priority remained protecting the health, safety and welfare of employees, customers and partners. We regularly monitored and evaluated the Company’s financial position and performance in the light of the pandemic; our Balance Sheet remained strong. The focus of the Board and Management continues to be the mitigation of the impact of the pandemic on the business.’’