NEWS
Nigerian Breweries Posts ₦114.1bn Nine-Month Profit As Finance Costs Fall 78 Percent
Nigerian Breweries Posts ₦114.1bn Nine-Month Profit As Finance Costs Fall 78 Percent
Revenue rose 5 percent to ₦1.10trn, while gross profit increased 15 percent to ₦477.9bn.
Profit after tax grew 33 percent to ₦114.1bn, supported by a 78 percent reduction in net finance expenses.
The brewer returned to third-quarter profitability, posting a ₦21bn profit and reversing a ₦4bn loss in the same period of 2025.
November 4, () – Nigerian Breweries Plc reported a 33 percent increase in profit after tax to ₦114.1 billion for the nine months ended September 30, 2026, supported by improved gross margins and a sharp reduction in finance expenses.
The brewer’s revenue rose 5 percent to ₦1.10 trillion from ₦1.05 trillion in the corresponding period of 2025, while gross profit rose 15 percent to ₦477.9 billion.
Results from operating activities grew 10 percent to ₦179.2 billion, while profit before tax advanced 33 percent to ₦171.7 billion.
The company attributed the performance to market-share gains, particularly in the premium segment led by brands such as Heineken and Desperados, despite continued pressure on consumer disposable income.
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A major contributor to the improvement in bottom-line performance was the 78 percent decline in net finance expenses, which eased the cost burden on earnings.
Products of Nigerian Breweries Photo credit Nigerian Breweries Plc
Third-Quarter Profit Marks A Turnaround
Channel
Nigerian Breweries also returned to profitability in the third quarter, recording a net profit of ₦21 billion for the three months ended September 30, 2026, compared with a net loss of ₦4 billion in the corresponding period of 2025.
The result ended a run of third-quarter losses recorded by the company since 2022.
However, Managing Director and Chief Executive Officer, Thibaut Boidin, said the return to profit came despite declines in both volumes and net revenue during the quarter.
He attributed the positive result to the strength of the company’s brand portfolio, improved gross margin and lower finance expenses.
“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.
He described the return to third-quarter profitability as an important milestone in the company’s recovery.
Nigerian Breweries Managing Director and Chief Executive Officer Thibaut Boidin Photo credit Business Post
Company Focuses On Cost And Cash Management
Nigerian Breweries said it had also strengthened its financial position through cash generation and working-capital management, adding that its net cash position at the end of September provided a stronger base for funding operations.
Boidin said the company would sustain its focus on cost control, investment in its brands and cash management as it navigates the remaining months of the financial year.
“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 stated.
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