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Nigerian Breweries Plc, the foremost brewing company in Nigeria, has announced a revenue of N733.19 billion for the second quarter of the 2025 financial year, a 53% increase compared to N478.84 billion recorded in the same period of 2024.
According to the provisional result, net profit for the second quarter of 2025 stood at N88.06 billion, marking a 204% turnaround from a loss of N84.32 billion posted during the corresponding period of 2024..
The audited results released by the Nigerian Exchange (NGX) also show that the Cost of Sales rose from N319.19 billion in 2024 to N423.57 billion in the period under review in 2025.
Similarly, Selling, Distribution, and Administration Expenses grew by 29% from N124.04 billion in 2024 to N159.58 billion in 2025.
Speaking to the results, Managing Director Thibaut Boidin revealed that the impressive performance recorded by the company is a reflection of its strong fundamentals and agility in navigating a challenging business landscape, which had been characterised by high inflation and constrained disposable income.
He noted that the performance in the first half of the year was largely driven by sustained innovation, strong commercial execution, optimization of right pricing strategies amidst rising input costs, improvement in cost management, and enhanced operational efficiencies
“The Company also benefited from the prudent utilisation of the proceeds of the Rights Issue as the net financing costs went down significantly by 87%. This deleveraging move has also strengthened the Company’s balance sheet, in addition to lowering the exposure to financing costs in a high-interest rate environment,” he said.
Boidin stated further that the elimination of foreign currency-denominated debts and the stability of the naira have resulted in a net foreign exchange gain during the period, compared to a loss reported in the previous period.
Also commenting on the results, Uaboi Agbebaku, Company Secretary and Legal Director of Nigerian Breweries Plc, reiterated the Board’s commitment to driving long-term value through a focus on cost optimization, market execution, and strengthening brand equity across the portfolio.
“The full ownership and integration of the operations of Distell Wines and Spirits Nigeria Limited will further strengthen the platform for long-term value creation for our Shareholders”, Agbebaku added.
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