The Board of
Directors of Nigerian Breweries Plc has announced a revenue of N254.7 billion
for nine (9) months ended September 30, 2017. In the statement of the result
sent to Nigerian Stock Exchange, the Board of the Company further announced the
declaration of an interim dividend of N7,996,902,051 (Seven billion, nine
hundred and ninety six million, nine hundred and two thousand and fifty one
naira only), which is, N1.00 (one naira only) per ordinary share of fifty kobo
in the share capital of the company.
An analysis
of the unaudited and provisional result shows that results from operating
activities grew from N37.9 billion to N42.3 billion, Profit before tax rose
from N27.8 billion to N34.4 billion while Profit after tax grew improved to
close at N23.9 billion from the N20.1 billion posted in the same period in
2016.
While
commenting on the results, the Company Secretary/Legal Adviser, Nigerian
Breweries Plc, Mr. Uaboi Agbebaku said “despite the continued challenging
business environment, revenue in the first nine months of the year grew
compared to the corresponding period in 2016”. He added that as a result of the
Company’s continued focus on internal efficiencies under its Cost Leadership
programme, results from operating activities improved, which combined with
lower Net Finance Charges resulted in increased profitability in the period.
It added
that the interim dividend is payable subject to deduction of withholding tax at
the appropriate rates, on Thursday, 23rd November, 2017 to all shareholders
registered in the books of the Company at the close of business on Wednesday,
15th November, 2017.
In the
statement signed by Mr. Agbebaku, the Board maintained that whilst the
operating environment for the remainder of the year is expected to remain
challenging, it is confident that, barring unforeseen circumstances, the
Company is well placed to deliver a good return on investment to shareholders.
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