Nigerian Breweries grows revenue 5% to N1.10tn

Nigerian Breweries Plc has reported a strong performance for the nine months ended 30 September 2026, recording revenue of N1.10tn, representing a five per cent increase from N1.05tn in the corresponding period of 2025.

According to the company’s financial report, gross profit rose 15 per cent to N477.9bn, while profit after tax increased 33 per cent to N114.1bn.

The performance was delivered against a market environment in which consumer disposable income remained constrained, despite improvement in macroeconomic stability, as the company expanded its market share supported by strong performances in the premium segment led by Heineken and Desperados.

Results from operating activities grew 10 per cent to N179.2bn, while profit before tax increased 33 per cent to N171.7bn, supported by a 78 per cent reduction in net finance expenses.

Significantly, the brewing company returned to profitability in the standalone third quarter, following consecutive third-quarter losses since 2022, recording a net profit of N21bn between July and September 2026, compared with a net loss of N4bn in the same period of 2025.

Commenting on the results, Nigerian Breweries Plc Managing Director and Chief Executive Officer Thibaut Boidin said the performance demonstrated strategic execution despite market strain.

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“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,” Boidin said.

“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,” he added.

The company also strengthened its financial position through cash generation and working-capital management, noting that its net cash position at the end of the period provides a firmer foundation to fund operational priorities.

Looking ahead, Boidin affirmed the company’s commitment to maintaining growth momentum through cost control and portfolio investment.

“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 noted.