Champion Breweries Plc grew its operating profit by 199 per cent for the 2016 financial year. The brewer said it was reaping from the performance of its portfolio, as the company recorded relative profit-propelled growth in its just-concluded financial year which ended on December 31, 2016.
Its operating profit grew from N207m recorded in 2015 to N618m.
The Chairman of the company, Dr. Elijah Akpan, while speaking at the company’s 41st Annual General Meeting in Lagos, said Champion Breweries recorded a substantial improvement in its trading results in the year under review compared to previous years.
“The trading results of the year under review shows substantial improvement compared to previous years. Revenue increased to N3.9bn from N3.5bn in 2015, The profit before tax was N637m as compared to N210m in 2015.”
Meanwhile, the Nigerian Stock Exchange market capitalisation appreciated to N9.132tn on Monday from N9.069tn as 267.637 million shares worth N3.257bn exchanged hands in 3,907 deals.
The NSE All-Share Index closed at 26,418.33 basis points from 26,235.63 recorded at the close of last week. The market recorded 26 gainers and 13 losers.