Nigerian Breweries profit rises 33% to N114.1 billion
Revenue grew 5% to N1.10 trillion in nine months ended September 30, 2026, as finance costs fell.
Nigerian Breweries Plc reported a 33% increase in profit after tax to N114.1 billion for the nine months ending September 30, 2026. This growth was driven by a 15% rise in gross profit to N477.9 billion and a significant 78% reduction in finance expenses. The company's revenue also saw a 5% increase, reaching N1.10 trillion during the same period.
Managing Director Thibaut Boidin stated that the nine-month performance demonstrated business resilience and disciplined execution, despite ongoing consumer spending pressures. The brewer achieved a net profit of N21 billion in the third quarter, marking its first profitable third quarter since 2022. Boidin called this return to quarterly profitability an important milestone.
Nigerian Breweries experienced declines in volumes and net revenue in the third quarter, though premium brands like Heineken contributed to market share gains. The company reported stronger cash generation and improved working capital management. Boidin confirmed a continued focus on brand investment, cost control, and cash management for the remainder of 2026.
Why it mattersNigerian Breweries Plc's financial results show increased profitability and revenue, alongside a return to quarterly profit, indicating business recovery.