Nigerian Breweries’ Chairman Acquires Shares Worth ₦2.2Million

Nigerian Breweries

Nigerian Breweries Plc (NBPLC) has notified the Nigerian Stock Exchange that its Non-Executive Chairman, Chief Kolawole Babalola Jamodu, has acquired 40,000 additional units of Nigerian Breweries Plc, worth ₦2,211,200.00.

Insider dealings give clues on insiders’ sentiment and director unlike before the new transparent policy where shareholders do not know what executives that formulates policy that impacts their desire stocks are doing.

In a statement released and made available to Brand Spur, the company secretary bought the shares at varying prices and volumes as detailed below on May 6, 2021, at the Nigerian Stock Exchange in Lagos, Nigeria.

Transaction details:

  • 896 shares at N54.25
  • 5000 shares at N55.05
  • 10,000 shares at N55.15
  • 4,104 shares at N55.20
  • 5,000 shares at N55.30
  • 5,000 shares at N55.50
  • 5,000 shares at N55.55
  • 2,338 shares at N55.60
  • 2,662 shares at N55.95

Summarily, 40,000 units were purchased at an average price of N55.28 per unit.

Nigerian Breweries Plc Reports 39.1% Rise in Profit After Tax to ₦7.7Bn

In the first three months of the year 2021, Nigerian Breweries Plc recorded a 38.6 per cent growth in profit before tax to N11.5 billion from N8.3 billion achieved in the first quarter of 2020.
The Brewer’s profit after tax climbed to N7.7 billion, 39.1 per cent higher than N5.5 billion recorded in the same period of 2020.

Nigerian Breweries’ net revenue for the period jumped to N105.6 billion, 27 per cent stronger than the figure posted in the first quarter of last year, Nigeria’s biggest beer-maker stated in its unaudited earnings report.

According to the financial statements analysed by Brand Spur Nigeria, the revenue increased to N105.7 billion from N83.2 billion, while the cost of sale rose to N66.0 billion from N48.3 billion, leaving the organisation with a gross profit of N39.7 billion compared with N48.3 billion recorded in the corresponding period of 2020.

Read Also:  Nigerian Breweries spent N22b on marketing/sales promo in 2016

Biography of Kolawole Jamodu

Kolawole Babalola Jamodu is a businessperson who has been at the helm of 9 different companies and presently occupies the position of Chairman for Nutricima Ltd. and Chairman at Nigerian Breweries Plc.

In his past career, he occupied the position of Chairman of PZ Cussons Plc Chairman at PZ Cussons Nigeria Plc and Chief Executive Officer for Paterson Zochonis Plc (both are subsidiaries of PZ Cussons Plc), Chairman & Chief Executive Officer at Unilever Plc, President at Harvard Business School Association of Nigeria, Chairman at Universal Trust Bank Plc and President for Manufacturers Association of Nigeria.