Nigerian Breweries has announced a profit of N43.1 billion after tax for financial year ended December 31, 3013. This reflects an increase of 13.2 percent when compared to N38 billion recorded in the same period in 2012.
The company’s revenue rose 6.3 percent to N268.6 billion in 2013 from N252.7 billion recorded in the corresponding period of 2012, while taxation increased to N19.2 billion in the review period from N17.6 billion recorded in 2012.
The result posted by NB showed N69.2 billion realized from the company’s operative activities in 2013, from N64.6 billion in 2012, while profit before tax was up 7.1 percent to N62.2 billion from N55.6 billion recorded in 2012.
The company’s Managing Director, Mr Nicolas Vervelde said the total brewed products market recorded a modest growth in 2013 with the value for money segments playing a significant role.
He further explained in the press statement that the investments in the company over the years and most recently with the acquisitions and subsequent merger of the acquired companies, has placed it in the best position to compete.
“Despite the difficult operating environment, we recorded growths in all segments of the market and indeed outperformed the market. We sustained our enviable leadership position in the market.
He also noted that during the year in review, the company introduced Maltina, Fayrouz in pet bottles, and Star Magnum.
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This article was first published on 10th April 2014