Nigerian Breweries Plc has reported a Group Revenue of N1.04tn for the nine-month period ended September 30, 2025, representing a 48 per cent increase over the N703bn recorded in the corresponding period of 2024.
According to the unaudited financial statements released on the Nigerian Exchange, the company’s cost of sales rose from N495bn in 2024 to N627bn in 2025, while marketing, distribution, and administration expenses increase 38 per cent from N184bn to N254bn during the period, driven by higher brand and sales activities.
The Company Secretary and Legal Director, Uaboi Agbebaku, said in a statement that despite the high double-digit inflation rate and elevated input costs, Nigerian Breweries delivered strong growth in revenue and operating performance.
He explained that the company consolidated its market leadership through premiumisation, enhanced competitiveness, and a strengthened route-to-market strategy.
“The Group’s revenue grew 47 per cent, supported by appropriate pricing and the strong performance of the premium portfolio. Operating profit improved significantly, supported by cost management and supply chain efficiencies, while the net profit increased 157 per cent due to the strong operating profit and lower finance cost. The Rights Issue programme of 2024 has contributed in no small measure to the positive turnaround in profitability compared to a year ago,” Agbebaku said.
He added that the third quarter of 2025 experienced the usual seasonal demand decline, coupled with a one-off impairment charge related to the integration of its subsidiary, Distell Wines and Spirits Nigeria Limited, resulting in a net loss for the quarter.
Agbebaku expressed optimism that the market would rebound in the last quarter of the year, driven by the festive season, and that the company’s full-year results would remain positive.
The Board appreciated shareholders for their continued confidence and support, which have enabled the company to sustain recovery and maintain a path toward long-term growth.
