Nigerian Breweries Plc reported a profit after tax of N55.95 billion for the first quarter ended March 31, 2026, a 25.6 per cent increase from N44.55 billion recorded in the same period of 2025.
Revenue rose eight per cent to N413.02 billion from N383.64 billion in the first quarter of 2025, according to unaudited results filed on the Nigerian Exchange.
Company Secretary Uaboi Agbebaku said the performance was driven by strong revenue management, 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 per cent to N93.41 billion.
A 55 per cent decline in net finance expenses contributed significantly to the profit growth, Agbebaku noted.
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Managing Director Thibaut Boidin said the balance sheet remained strong and liquidity continued to improve during the quarter.
“The improved cash position supported the recent settlement of outstanding borrowings, thereby strengthening the company’s financial position,” Boidin stated.
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He added that the brewer remains focused on execution excellence, revenue optimisation, cost control, and efficient cash management.
The company is intensifying risk management amid the ongoing crisis in the Middle East, Boidin said.
Nigerian Breweries continues to sustain momentum while aiming to deliver long-term value to stakeholders.
