Daily Archives: February 18, 2015

Challenging times for Nigerian Breweries as profits dip

Tough economic times in the country is slowing growth potential for Nigerian Breweries (NB)

The 2014 Financial Statements for the company showed a profit after tax (PAT) declined by 1.3 percent to N42.52bn, when compared to N43.08bn from the previous year (FY 2013). Sales also fell slightly by 0.8 percent to N266.37bn.

“We believe that the year-to-year decline on top-line was driven by a slow-down in beer demand arising from significant macro headwinds,” said Tunde Abidoye, Equity Analyst at FBN Capital.