Nigeria: Nigerian Breweries posts 48% growth in nine-month group revenue

Nigerian Breweries Plc has posted a group revenue of N1.04 trillion for the nine-month period ended September 30, 2025, representing a 48% growth over the N703 billion recorded in the corresponding period in 2024, The Cable reported on October 23.

According to the unaudited results released on NGX portal, the Cost of Sales rose from N495 billion in 2024 to N627 billion in the period under review, while Marketing, Distribution, and Administration expenses went up by 38% from N184 billion in 2024 to N254 billion in 2025 driven by increased brand and sales activities.

The Company Secretary/Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku, disclosed in a statement that the Company was still able to deliver strong growth in the topline and in the operations during the period under review despite a high double-digit inflation rate which continues to constrain consumer spending and high input costs.

Agbebaku explained that the Company was also able to consolidate its market leadership, which was primarily influenced by premiumisation, increased competitiveness, and enhanced route-to-market.

“The Group’s revenue grew by 47%, supported by appropriate pricing and the strong performance of the premium portfolio. Operating profit improved significantly supported by cost management and supply chain efficiencies, while the net profit increased by 157% due to the strong operating profit and a lower net finance cost. The Rights Issue programme of 2024 has contributed in no small measure to the positive turnaround in the profitability of the Group compared to a year ago,” he said.

He added that as earlier anticipated, the third quarter of 2025 itself witnessed the seasonal market demand decline which, together with a one-off impairment charge relating to the integration of its subsidiary, Distell Wines and Spirits Nigeria Limited, resulted in a net loss in the quarter. With a rebound expected in the market in the last quarter of the year due to the usual peak period associated with year-end festivities, the Board expects the full year results to remain positive.

The Board continues to appreciate the Shareholders for their unwavering support and confidence, which have enabled the Company to deal with the challenges of the last couple of years, and maintain a path towards recovery and long-term growth.

26 October, 2025