Tag Archives: Akwa Ibom

Champion Breweries records 57% profit growth in nine months

Champion Breweries Plc said on Tuesday that net profit for the nine months to the end of September grew 57% to ₦152m ($419,000), up from ₦97m ($267,000) in 2016.

The Akwa Ibom-based brewer said that profit growth was helped by a 25% sales lift which reached ₦3.3bn ($9 million) from ₦2.7bn ($7.4 million) in the previous year. Cost of sales grew marginally at 13.5% to ₦2.5bn ($6.9 million), helping boost Gross profit 58% and Operating Profit 73% to ₦171m ($471,000).

Nigerian Breweries unveils newly built block of classrooms in Uyo

Nigerian Breweries Plc has commissioned a newly built block of classrooms, library and toilet facilities at the Special Education Center for Exceptional Children in Uyo, Akwa Ibom State in honour of Imoh Eno-Essien, the 2016 Maltina Teacher of the Year.

The construction of the facilities in the school where Mr. Essien teaches was part of the prize for emerging as the 2016 Maltina Teacher of the Year. Essien, who beat nine other finalists to the coveted prize last year, also received one million Naira cash prize, an oversea training, plus another one million Naira to be paid to him annually for five years.

Champion Breweries finishes year stronger

Champion Breweries on Monday reported its full year results for 2016 with net income surging 203% to N530m, from N77m in the previous year.

The maker of Champ Beer and champ malt saw a 10.37% rise in revenue for the year to N3.9bn, from N3.5bn in 2015.

While selling and distribution expenses rose 26% to N322m, from N256m in the previous year, administrative expenses fell 73% to N160m in the period under review.

Fire engulfs Coca-Cola depot in Uyo; Goods worth millions at risk

The Uyo depot of the Nigerian Bottling Company, makers of Coca-Cola, Fanta and Sprite was on Wednesday engulfed in flames with goods worth millions of naira at risk of being lost.

An eye witness, Mr. Charles Ekong, told the News Agency of Nigeria (NAN) that the fire started from where the pallets are kept and soon spread to the entire packaging area.

Akwa Ibom Special Ed Teacher wins 2016 Maltina Teacher of the Year Award

A new Maltina Teacher of the Year winner has emerged in Mr. Imoh Essien, a Special Education teacher from the Special Education Center for Exceptional Children in Uyo, Akwa Ibom State.

The event which took place on Thursday in Lagos saw Mr. Essien beat other contestants from each state to win the coveted prize.

Champion Breweries appoints Patrick Ejidoh as new Managing Director

Champion Breweries Plc, the Uyo, Akwa Ibom based brewer has appointed Patrick Ejidoh as its new Managing Director.

Mr. Ejidor takes over from Sharm Ganesh Kulkarm, who is retiring after 28 years in Nigeria, four of which was spent as Managing Director of Champion Breweries. Ejidoh holds a Masters of Business Administration (MBA) and had been the Public Affairs Manager, East for Nigerian Breweries Plc up until his recent appointment.

At a ceremony organized by the company in Uyo, Ejidoh promised to maintain the company’s profitability in managing the brewery while ensuring the optimal welfare of the employees.

Champion Breweries half-year revenue and profit rise

Champion Breweries Plc on Wednesday reported N79m net profit for the first-half of 2016, a 441% increase from last year when it earned N15m.

The Akwa Ibom based brewer said that revenue for the period grew 15% to N1.8bn, up from N1.6bn in the previous year.

The company also posted impressive results in the quarter under review, with net profit rising 305% to N22m on N958m revenue.

Champion Breweries reports 15% rise in revenue for Q1 2016

Champion Breweries Plc, the Akwa-Ibom based brewer reported a 15% rise in sales for the first quarter ending 31 March 2016.

The brewer of Champion Lager saw its revenue rise to N872, from N757 in the same quarter in 2015.

Gross profit also rose 46% to N265m, from N182m in 2015.

Akwa Ibom State Government to start taxing alcohol consumption

The Akwa Ibom State Government has announced that alcohol consumption in hotels and beer parlours in the state would now attract tax.

This was made known to journalists in Uyo on Saturday by the State’s Commissioner for Finance, Mr. Akan Okon. He said that people who consumed alcoholic drinks would begin to pay a token as tax.