Nigerian Breweries Plc, for the 3rd quarter of 2021, has increased its revenue by 32.1 per cent to N309.22 billion from N234.02 billion recorded in the corresponding period in 2020.
Further breakdown of the audited result showed that profit for the company in the third quarter of the financial year also grew from N7.1 billion to 8.47 billion, representing a 20.1 per cent rise.
Cost of Sales rose significantly by 37.9 per cent from N144.1 billion in 2020 to N198.74billion in the period under review in 2021, while Marketing, Distribution, and Administration Expenses also grew by 27.2 per cent from N67.86 billion in 2020 to N86.32 billion in 2021.
The board of directors of the company has approved an interim dividend of N3.23 billion payable to shareholders at 40 kobo each per ordinary share of 40k.
A statement signed by the Company Secretary/Legal Director, Nigerian Breweries Plc, Uaboi Agbebaku revealed that the company remains committed to its strategy to deliver improved growth as it continues to monitor the business environment and remain dynamic in its response to challenges confronting the business as well as that of the economy, particularly in the face of COVID-19 pandemic.
Agbebaku explained that the company would continue to deploy cost-efficient measures to keep the balance sheet strong and healthy while ensuring that the health, safety and welfare of its employees, customers and partners are protected.
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