The foremost brewing company in the country, Nigerian Breweries Plc, recorded a sterling performance in the third quarter of 2025, growing its earnings by 47.9 per cent to N1.04 trillion in the nine-month period ended September 30, 2025, compared with the N703 billion achieved in the corresponding period in 2024.
In the financial statements submitted to the Nigerian Exchange (NGX) Limited, the brewer said its cost of sales went up to N627 billion from N495 billion, as marketing, distribution, and administration expenses soared by 38 per cent to N254 billion from N184 billion due to increased brand and sales activities.
It was observed that during the period under review, the brewery firm improved its operating profit due to cost management and supply chain efficiencies, helping the organisation to post a 157 per cent surge in net profit.
According to a notice signed by the Company Secretary/Legal Director of Nigerian Breweries, Mr Uaboi Agbebaku, said the company was still able to deliver strong growth in the topline and in the operations during the period under review despite a high double-digit inflation rate which continues to constrain consumer spending and high input costs.
Mr Agbebaku explained that the firm was also able to consolidate its market leadership, which was primarily influenced by premiumisation, increased competitiveness, and enhanced route-to-market.
“The group’s revenue grew by 47 per cent, supported by appropriate pricing and the strong performance of the premium portfolio.
“Operating profit improved significantly supported by cost management and supply chain efficiencies, while the net profit increased by 157 per cent due to the strong operating profit and a lower net finance cost.
“The rights issue programme of 2024 has contributed in no small measure to the positive turnaround in the profitability of the Group compared to a year ago,” he said.
The scribe noted that as earlier anticipated, the third quarter of 2025 itself witnessed the seasonal market demand decline which, together with a one-off impairment charge relating to the integration of its subsidiary, Distell Wines and Spirits Nigeria Limited, resulted in a net loss in the quarter.
With a rebound expected in the market in the last quarter of the year due to the usual peak period associated with year-end festivities, the Board expects the full year results to remain positive.