Nigerian Breweries Generated N1.04trn From Drink Sale In Nine Months

Nigerian Breweries recorded N1.04 trillion in revenue between the first quarter (Q1) and the third quarter (Q3) of 2025, surpassing the N 710.87 billion posted in the first nine months of 2024, representing a 47.19 percent increase.

The brewer announced the increase in turnover in its unaudited condensed interim financial statements for the nine months ended September 30th, 2025, which disclosed cost of sales rose by 26 percent year-on-year, from N500.95 billion to N631.22 billion.

In the financial report, Nigerian Breweries said it closed the period under review with N415.15 billion gross profit, compared to last year’s N209.91 billion, indicating a 97.77 percent rise.

Also, selling and distribution expenses increased by 35.46 percent year-on-year, from N143.1 billion to N193.85 billion, and administrative expenses grew by 57.76 percent, from N37.76 billion to N59.57 billion.

The company said finance income grew to N1.32 billion between January and September 2025, exceeding the N483.50 million earned in the corresponding period in 2024, reflecting a 173.61 percent growth.

However, Nigerian Breweries incurred finance costs of N39.15 billion between Q1 and Q3 of this year, compared to the N72.04 billion recorded in the first nine months of last year.

The 45.65 percent decrease in finance costs led to Nigerian Breweries securing an 85.49 percent decline in net finance costs, which dropped from N232.04 billion recorded between January and September last year to N33.65 billion.

Also, the company’s bottom line was strengthened by a N10.25 billion net gain on foreign exchange transactions during the period under review, compared to the N48.21 billion net loss on foreign exchange transactions experienced in 2024.

Consequently, Nigerian Breweries rebounded from last year’s N202.99 billion loss before tax with a N129.47 billion pretax profit in the first nine months of this year.

The brewer added that it incurred N43.96 billion income tax following the pretax profit between Q1 and Q3 2025, against the N53.49 billion tax credit secured in the same period in 2024.

As a result, profit after tax (PAT) was N85.5 billion in the first nine months of this year, compared to the N149.5 billion loss after tax credit reported in 2024.

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