Prime Business AfricaThe Nigerian Breweries generated N383.63 billion within January and March 2025, according to the company’s first quarter (Q1) 2025 financial statement, which showed the brewer surpassed the N227.12 billion turnover reported in Q1 2024.
While revenue increased by 68.91 percent, the cost of sales rose by 49.45 percent year-on-year, from N145.24 billion to N217.06 billion.
Join our WhatsApp ChannelAlso, gross profit increased by 103.42 percent to N166.56 billion in the first quarter of this year, exceeding the N81.87 billion reported during the same period the previous year.
Furthermore, other income climbed to N754.42 million in Q1 this year, compared to N621.17 million recorded in Q1 2024, representing an increase of 21.44 percent.
The company also reported a 237.48 percent year-on-year increase in its results from operating activities, which grew from N25.26 billion to N85.26 billion.
Also, finance income grew to N264.42 million in the first quarter of 2025, exceeding the N141.67 million recorded in the corresponding period last year, indicating an increase of 86.64 percent.
Nigerian Breweries’ impressive result continued with its net loss on foreign exchange transactions declining by 99.75 percent year-on-year to N178.01 million, from N72.84 billion.
The brewer also reduced its finance costs by 15.32 percent, from N18.14 billion reported in Q1 last year, to N15.36 billion in the first quarter of 2025.
As a result, Nigerian Breweries’ net finance costs dropped to N15.27 billion in Q1 2025, compared to the N90.84 billion reported in Q1 2024, representing a decline of 83.18 percent.
In addition, the company managed to report N69.99 billion as profit before tax (PBT) in Q1 2025, compared to the N65.58 billion loss before tax recorded in Q1 2024.
During the period in review, the brewer paid N24.73 billion as income tax; consequently, it recorded N44.55 billion as profit after tax (PAT), compared to the N52.08 billion loss after tax reported during the same period last year.
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