The Board of Directors of Nigerian Breweries Plc., the foremost brewing company in Nigeria, has announced a Profit After Tax of N55.95 billion for the three-month period ended 31 March 2026, representing a 25.6% increase over the N44.55 billion recorded in the corresponding period in 2025.
The company also recorded 8% revenue growth, with revenue rising from N383.64 billion in Q1 2025 to N413.02 billion in Q1 2026.
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According to the unaudited results released on the NGX portal, Cost of Sales rose from N216.05 billion in 2025 to N233.16 billion in the period under review, while Selling, Distribution, and Administration expenses grew by 14.2% from N81.78 billion in 2025 to N93.41 billion in 2026, driven by increased brand and sales activities.
In a statement by the Company Secretary/Legal Director, Uaboi Agbebaku, it was stated that the company delivered a strong performance in the quarter, sustaining the 2025 recovery trajectory despite a fragile and volatile operating environment, exacerbated by the crisis in the Middle East.
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Agbebaku explained that the 8% revenue growth was largely driven by strong revenue management, the performance of premium brands led by Heineken Lager, and the execution of growth initiatives. He attributed the rise in profitability recorded in the first quarter to disciplined cost management and reduced finance expenses. According to him, the 55% decrease in net finance expenses contributed significantly to the 26% growth in the net profit.
Speaking on the company’s performance, the Managing Director of Nigerian Breweries Plc, Thibaut Boidin, expressed confidence in the company’s financial position, stating that the balance sheet remained strong and that liquidity continued to improve.
“The improved cash position supported the recent settlement of outstanding borrowings, thereby strengthening the Company’s financial position,” Boidin said.
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He added that the company remains focused on execution excellence, revenue optimization, cost control, and efficient cash management to sustain momentum and deliver long-term value to stakeholders.
He assured stakeholders that the company would continue to intensify its focus on risk management by reviewing downside scenarios and implementing mitigation measures across key exposures to protect performance and preserve financial flexibility amidst the Middle East crisis.
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