Firm Posts N1.10trn Revenue Growth In 9 Months

Nigerian Breweries Plc has posted a revenue growth of N1.10 trillion in its nine-month performance for the period ended September 30, 2026.

The company disclosed this in its third quarter unaudited 2026 results financial statement released to the investing public on the Nigerian Exchange.

According to the results, revenue grew by per cent to N1.10 trillion from N1.05 trillion in the corresponding period of 2025. Gross profit rose 15 per cent to N477.9 billion, while results from operating activities increased by 10 per cent to N179.2 billion.

Profit before tax grew by 33 per cent to N171.7 billion, while profit after tax also rose 33 per cent to N114.1 billion. The company attributed the growth in profitability to improved margins and a 78 per cent reduction in net finance expenses.

The managing director/CEO of Nigerian Breweries, Thibaut Boidin, said the performance reflects business resilience despite pressure on consumer spending.

“Our nine-month performance reflects the resilience of our business and the disciplined execution of our priorities. Despite continued pressure on consumer spending, we grew revenue, strengthened our market position and delivered a significant improvement in profitability,” he said.

He noted that the company increased its market share, supported by strong performances in the premium segment, led by Heineken and Desperados, even as consumer disposable income remained constrained despite improved macroeconomic stability.

Significantly, Nigerian Breweries returned to profitability in the standalone third quarter after consecutive Q3 losses since 2022. The brewer posted a net profit of N21 billion between July and September 2026, compared to a net loss of N4 billion in Q3 2025.

“The return to profit in the third quarter is an important milestone and demonstrates the progress we are making. While volumes and net revenue declined during the quarter, the strength of our portfolio, improved gross margin and substantially lower finance expenses helped us deliver a positive bottom line,” Boidin added.

The company also strengthened its financial position through robust cash generation and improved working-capital management, providing a firmer foundation to fund business priorities.

Looking ahead, Boidin said the company remains focused on building momentum.

“We remain focused on building on this momentum through disciplined execution, continued investment behind our brands and rigorous cost and cash management. Although the operating environment remains demanding, we are confident in the strength of our business and maintain a positive outlook for the full year 2026,” he said.