Nigerian Breweries profit rises 33% to N114.1bn in nine months
The brewing company achieved a return to third-quarter profitability despite facing ongoing pressure on consumer spending throughout the period.
Nigerian Breweries Plc has announced a 33 percent increase in profit after tax, reaching N114.1 billion for the nine months ending September 30, 2026. This financial growth was supported by a 78 percent reduction in finance expenses and improved gross profit margins.
The company's revenue for the nine-month period rose to N1.10 trillion, up from N1.05 trillion in the corresponding period of 2025. Gross profit also saw a 15 percent increase, totaling N477.9 billion.
In the third quarter of 2026, the firm recorded a net profit of N21 billion, marking a recovery from the N4 billion net loss reported during the same period in 2025. This result ends a series of third-quarter losses that had persisted since 2022.
Managing Director and Chief Executive Officer Thibaut Boidin stated, "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."
While the company noted gains in its premium brand segment, including Heineken and Desperados, it reported that overall volumes and net revenue declined during the third quarter. The firm attributed its improved bottom line to its focus on cost control, cash management, and working-capital efficiency.
Looking forward, the company maintains a positive outlook for the remainder of the year. Boidin noted, "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."
SOURCE: The Sun Nigeria
