In recent Nigerian Breweries Plc unaudited Q3 2017 earnings’ report, both revenue and net income were grown by 14.4% and 19.4% respectively against Q3 2016 figures.
The firm recently acquired plant and equipment to boost productivity at a cost of N18.5 billion during the period.
The % change in the cost of sales was higher than revenue, as a result of high cost of imported raw materials for production activities.
Key Highlights:
- Nigerian Breweries recorded a growth of 14.4% and 19.4% in revenue and net income respectively for the nine months period.
- The firm recently acquired plant and equipment to boost productivity with a cost of ₦18.5 billion during the period.
- The %change in the cost of sales was higher than revenue, as a result of high cost of imported raw materials for production activities.
- Other income had an impressive growth of 404%, realized from the sales of scraps, contributed majorly to the bottom line.
- Operating profit margin dipped due to the increase in operating expenses (Cost of sales, Distribution expenses etc.); however, PBT margin rose by 100 basis points as a result of reduced finance cost.
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