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| Mr Jordi Borrut Bel |
Nigerian
Breweries Plc has announced a Profit after Tax of N10.2 billion for the first
quarter of 2018. The unaudited and provisional results released to The Nigerian
Stock Exchange show that the N10.2 billion represents an 11.8% decrease over
the N11.4 billion recorded in the corresponding period in 2017.
The
Company’s revenue dipped by 9% from N91.3 billion in 2017 to N83.0 billion in
the current period. In a filing statement to The Nigerian Stock Exchange by the
Board of Directors, the brewing giant stated that “while there are some signs
of improvement in the macroeconomic conditions, these are yet to be reflected
in consumer spending”
In
a statement, signed by Mr. Uaboi Agbebaku, Company Secretary/Legal Adviser, “the
Board remains confident that the Company has a clear strategy to deliver a good
return on investment for its shareholdersFurther analysis shows that results
from operating activities declined by 8% from N19.2 billion in 2017 to N17.7
billion in the corresponding months in 2018. Profit before Tax also dropped by
12.6% from N17.4 billion in 2017 to N15.2 billion in the period under
review.
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