Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...
- Advertisement -

Nigerian Breweries Plc (NB) Q3-2020 financials show a contraction in gross revenue by 0.7% to N234.04 from the N235.68bn generated in Q3-2019. This is coming in the midst of intense competition in the breweries industry couple with weak demand brought about by the COVID-19 pandemic. Cost of Sales, however, increased by 3.3% from N139.56bn to N144.09 leading to a 6.5% reduction in gross profit. Notably, Nigerian Breweries gross profit decreased from N96.17bn to N89.95bn in Q3-2019 and Q3-2020 respectively.

Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend
Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend – www.brandspurng.com

Higher Expenses pressure Operating Profit.

Despite the reduction in gross profit, operating expenses trended higher putting weight on profitability. Specifically,  Nigerian Breweries operating profit declined by 10.7% to N22.49bn compared to the N25.17 earlier recorded in Q3-2019. The moderation to profit was further compounded by a 5.3% reduction in finance income even as finance cost advanced by 43.4% emanating from new debt issuance.

Interim Dividend of 25 kobo  in the Midst of Dwindling EPS

Nigerian Breweries Profit before Tax waned by 36.3% with a 43.5% contraction in Profit after tax. Notably,  Profit after tax compressed to N6.94bn compared to the N12.28bn recorded in Q3-2019. This led to downward pressure on the EPS from N1.53 to N0.89. The Company, however, declared an interim dividend of 25 kobo to be paid on 1st of December, 2020.

Read Also:  PZ Cussons seeks shareholders' approval for Nutricima sale to FrieslandCampina

Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend
Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend – www.brandspurng.com

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

- Advertisement -

Top 10 Smartphone Brands Capture 88% Market Share in Q2 2020 as Huawei and Samsung Tie at 20%

Worldwide smartphone sales suffered a hit during the second quarter of 2020, dropping by 20.4%. In total, 294.7 million units were sold during the three-month period compared to 370.3 million units in Q2 2019.

Ogun Govt Releases N500,000 to Trade Associations, Artisan Groups

In a bid to further enhance rapid economic growth in Ogun State as well as ensure the wellbeing of its citizenry, the State Government has released the sum of Five Hundred Thousand Naira as subvention to Trade Associations and Artisan Groups.

- Advertisement -

You Should Probably Shut Up At These Critical Times

Talking can help you connect with others, but it can also destroy relationships. Here are some critical times when you should shut your mouth—before you put your foot in it.

- Advertisement -
Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand SpurNigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand SpurNigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand Spur

Latest News

FinTech Investments in Q3 2020 Drop by 16% Quarter-over-Quarter to $12.15 Billion

The total value of fintech investments worldwide sank to $12.15 billion in Q3 2020, a 16% drop compared to...

Pokemon Go Lifetime Revenue Crosses $4 Billion as Year-To-Date Revenue Surges by 30%

The year 2020 has been the most profitable year for Pokemon Go since its launch in 2016. The mobile game generated $1 billion in...

Golden Guinea Breweries Plc Reports N18.88m PAT in Q3 2020

The Umuahia, Abia State-based Golden Guinea Breweries Plc has released its unaudited financial statements for the year ended September 30th, 2020. The brewer recorded Revenue...

Nigeria Gross Domestic Product: COVID-19 drags economy further by 3.62%

The Nigerian economy slid into its second recession in five years, following the 3.62% y/y contraction recorded in Q3’20 (Q3’19: +2.28% y/y). The economy...

Shoprite surprises customers on a bumper Black Friday

Shoprite Nigeria’s supermarkets have offered early Black Friday deals and big discounts on everyday essentials as customers are increasingly looking for value, given the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand SpurNigerian Breweries Generated N6.9 Billion PAT… Declared 25 Kobo Interim Dividend - Brand Spur