Nigerian Breweries Grows Profit by 25.6% in Q1

Nigerian Breweries Grows Profit by 25.6% in Q1

Nigerian Breweries Plc has recorded a 25.6 per cent increase in profit after tax to N55.95 billion for the first quarter (Q1) of the financial year 2026, according to its regulatory filing.

This is compared with N44.55 billion in the corresponding period of 2025. Nigerian Breweries disclosed this in its unaudited financial statement released through the Nigerian Exchange Ltd. on Friday.

Profit before tax increased by 14.9 per cent to N80.41 billion from N69.99 billion recorded in the first quarter of 2025.

Income tax dropped by 3.8 per cent to N24.47 billion, compared to N25.44 billion in the same period of the previous year.

Gross profit stood at N179.85 billion, up by eight per cent from N166.57 billion recorded in the corresponding period of last year.

The results showed that revenue rose to N413.02 billion, representing a 7.7 per cent increase from N383.64 billion recorded in the corresponding period of 2025.

Cost of sales also grew to N233.16 billion from N217.07 billion in the same period of 2025, reflecting a 7.4 per cent increase.

However, selling, distribution and administrative expenses increased significantly by 13.8 per cent to N93.41 billion, compared to N82.06 billion in first quarter of 2025.

Other income rose by 22.4 per cent to N923 million from N754 million recorded in the same period of 2025.

Operating profit grew marginally by 2.5 per cent to N87.36 billion, against N85.27 billion recorded in first quarter of 2025. Net finance expenses declined sharply by 54.5 per cent to N6.95 billion from N15.28 billion in the corresponding period of 2025.

The company’s basic earnings per share increased to N1.80 from N1.43,  representing a 25.9 per cent growth. Similarly, diluted earnings per share rose to N1.80 from N1.43 recorded in the corresponding period of 2025.

The performance reflects improved profitability for the company, supported largely by reduced finance costs in spite of rising operating expenses during the period under review.

Nigerian Breweries Grows Profit by 25.6% in Q1