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Nigerian Breweries reports 30.25% growth in 2008 Turnover

Category: Corporate Earnings


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Nigerian Breweries reports 30.25% growth in 2008 Turnover

Peter OBIORA

Proshare NI

March 09, 2009 at 11:25 GMT

 

 

Nigerian Breweries Plc NB (Plc) has reported a 30.25 percent (30.25%) growth in Turnover for its Financial Year Ended (FYE) December 31 2008.

 

To post this result, NB Plc Turnover grew from N111.7 billion in year 2007 FYE to N145.5 billion in year 2008 FYE; indicating a growth of 30.25% in the review period.

 

In a statement made available to Proshare NI and signed by Uaboi Agbebaku, Company Secretary/Legal Adviser, of NB Plc, the Board of Directors (BOD) affirmed that the brewing company maintained its leadership position in the market during the year under review.

 

The statement further affirmed that the continued and strong consumer demands for the company’s products, benefits from continuing investments and improved efficiencies, resulted in improved performances for the year.

 

As earlier reported by Proshare NI, Profit before Tax (PBT) of NB Plc grew from N27.9 billion in year 2007 to N37.5 billion in year 2008, representing a growth of 35 percent (35%).

 

While Profit after Tax (PAT) rose for N18.943 billion in year 2007 to N25.7 billion in year 2008, indicating a rise of 36 percent in the review period.

In the same vein, Proshare NI has earlier reported that NB Plc has increased its dividend payout to investors in year 2008 by 36 percent (36%).

 

To achieve this, the Brewing Giant increased the dividend payout from 250 Kobo paid in year 2007 Financial Year End (FYE) to 340 Kobo at its FYE December 31 2008.

 

NB Plc had earlier in October 2008 and January 2009 paid two interim dividends amounting to N21, 931,430,786 in the review period.



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