Nigerian Breweries Plc has announced impressive financial results for the nine months ended September 30, 2025, recording a profit after tax of ₦85.5 billion, representing a remarkable 157% increase compared to the loss of ₦149.5 billion recorded in the same period last year.
The beverage giant posted consolidated revenue of ₦1.05 trillion for the period, marking a 48% year-on-year increase from ₦710.9 billion in 2024.
The company attributes this growth to strategic pricing initiatives and the strong performance of its premium product portfolio.
“The Group delivered a strong top-line growth in the nine months under review despite the high double-digit inflation rate that continues to constrain consumer spending and the high input costs,” the company stated in its results announcement sent to the Nigerian Exchange Limited (NGX) on Wednesday.
Nigerian Breweries’ operating profit surged by 462% to ₦163.1 billion, up from ₦29 billion in the corresponding period of 2024. This dramatic improvement was driven by:
– Enhanced operational efficiency
– Improved cost management across the supply chain
– Premium product portfolio performance
– Route-to-market enhancements
– Increased market competitiveness through a premiumization strategy
The company’s gross profit grew by 98% to ₦415.2 billion, though gross margin remained relatively stable as the cost of sales increased by 26% to ₦631.2 billion, reflecting the impact of inflation on input costs.
Net finance expenses declined by 16% to ₦33.7 billion from ₦232 billion in the prior year, significantly contributing to the bottom-line improvement. The company’s tax expense for the period stood at ₦43.9 billion.
Basic and fully diluted earnings per share came in at ₦275 per share, a dramatic turnaround from the loss of ₦1,455 per share recorded in the same period of 2024.
Management emphasised that margins were maintained through premiumization strategies, increased competitiveness, and enhanced route-to-market capabilities, despite the challenging operating environment characterised by high inflation and elevated input costs.
The Rights Issue undertaken by the company was highlighted as a key factor supporting the improved financial position, contributing to lower net finance costs and strengthening the balance sheet.
The results come against a backdrop of significant macroeconomic challenges in Nigeria, including persistent high inflation rates that have pressured consumer spending power and increased operational costs for businesses across sectors.
News.ng reports that Nigerian Breweries’ ability to grow revenue by nearly 50% while significantly improving profitability demonstrates the effectiveness of its strategic initiatives and operational execution during a difficult economic period.
