Nigerian Breweries Plc has delivered a strong financial comeback, recording a revenue of ₦733.19 billion and a net profit of ₦88.06 billion in the first half of 2025. This marks a 53% increase in revenue and a remarkable reversal from the ₦84.32 billion loss recorded during the same period in 2024.
The results, released to the Nigerian Exchange (NGX), reflect improved performance driven by strategic pricing, cost optimisation, and operational efficiency across its nine breweries nationwide.
According to Managing Director Thibaut Boidin, the company’s resilience in the face of rising costs and inflation was anchored on “sustained innovation, strong commercial execution, and enhanced cost management.” He also noted that proceeds from the company’s Rights Issue helped reduce net financing costs by 87%, while foreign currency debt elimination and naira stability contributed to a net forex gain.
“We’ve significantly strengthened our balance sheet and reduced our exposure to high-interest costs,” Boidin said.
Further breakdown shows that Cost of Sales rose to ₦423.57 billion, up from ₦319.19 billion in 2024, while Selling, Distribution, and Administrative Expenses climbed to ₦159.58 billion, a 29% increase from ₦124.04 billion.
Company Secretary and Legal Director Uaboi Agbebaku reiterated the Board’s focus on long-term value creation through cost discipline, market execution, and brand strength.
In a related development, Uzodinma Odenigbo, Corporate Affairs Director, stated that the full ownership and integration of Distell Wines and Spirits Nigeria Limited will expand the company’s market base and drive sustainable growth.
Nigerian Breweries, a member of the HEINEKEN Group, is the country’s oldest and largest brewing company, with a brand portfolio that includes Heineken, STAR, Maltina, Gulder, Fayrouz, Amstel Malta, and Desperados.
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