LAGOS, Nigeria — Nigerian Breweries Plc reported a profit after tax of N55.95 billion for the first quarter ended March 31, 2026, a 25.6 percent increase from the N44.55 billion recorded in the same period of 2025, the company announced on April 28, 2026.
Okay News reports that the unaudited results filed on the Nigerian Exchange (NGX) showed revenue rose 8 percent to N413.02 billion from N383.64 billion in the first quarter of 2025.
Company Secretary and Legal Director, Uaboi Agbebaku, said the performance was driven by strong revenue management, the growth of premium brands led by Heineken Lager, and disciplined cost control. Cost of sales increased to N233.16 billion from N216.05 billion, while selling, distribution, and administration expenses rose 14.2 percent to N93.41 billion from N81.78 billion.
Agbebaku noted that a 55 percent decline in net finance expenses contributed significantly to the profit growth.
Managing Director of Nigerian Breweries Plc, Thibaut Boidin, said the balance sheet remained strong and liquidity continued to improve. “The improved cash position supported the recent settlement of outstanding borrowings, thereby strengthening the Company’s financial position,” Boidin said.
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, while intensifying risk management amid the crisis in the Middle East.
