Nigeria: Nigerian Breweries Plc records 15% net earnings’ growth by June, 30

Nigerian Breweries Plc has recorded a 15% growth in net earnings during the financial half year ended June 30, 2011, WorldStage reported on July, 21.

In filings from the Nigerian Stock Exchange, the unaudited result of the brewery firm showed a profit after tax of N18.722 billion for the half year in contrast to N15.878 billion recorded during a comparable period of 2010.

The company’s turnover stood at N110.201 billion in 2011 as against N88.444 billion recorded in 2010 while Fixed Assets stood at N73.038 billion compared to N73.800 billion in 2011.

The company has also notified the Exchange of the appointment of Mr. Sijbe Siep Hiemstra as a director effective on 1st of August, 2011.

Mr. Sijbe Siep Hiemstra holds a BBA Degree from the School of Higher Economic Studies (HES) at Rotterdam, Netherlands in 1976. He has worked in several places and held management positions. He was until this appointment the Regional President/Member Executive Committee Heineken Asia Pacific- Singapore region.

22 July, 2011