Nigerian Breweries Plc has announced its results for
the 2017 operating year with a dividend recommendation of N33 billion to its
shareholders. The recommendation, which amounts to a total dividend of N4.13
(four Naira thirteen kobo) per share for the 2017 operating year was part of
the company’s filing to The Nigerian Stock Exchange on Thursday, 15th February
2018. The recommended dividend is inclusive of interim dividend of N8 billion,
which is N1.00 (one naira only) per share earlier paid by the company in
November 2017.
In the company statement signed by the Company
Secretary/Legal Adviser, Nigerian Breweries Plc, Mr. UaboiAgbebaku, the Board
also announced a N33 billion profit after tax (PAT) for 2017 on a revenue of
N344 billion. This represents a 16% increase in Profit after tax from N28.4
billion in 2016 and a 10% growth in turnover from N313 billion in the
corresponding period.
According to Mr. Agbebaku, “whilst the foreign exchange
situation improved in the course of the year, double digit inflation continued
to impact both businesses and consumers. Nevertheless, the company was able to
end the year with improved results through continuous focus and execution of
the twin agenda of cost leadership and market leadership supported by
innovation”.
The Board maintained that whilst there are some early
signs of improvement in the macro-economic condition, this is yet to be
reflected in consumer confidence. The Board remains confident that the Company
has a clear strategy to deliver good return on investment to Shareholders as
part of its commitment to Winning with Nigeria.
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