Daily Archives: August 21, 2015

Nigerian Breweries posts lower half-year (H1) profits on higher operating costs, competitive pressure

Nigerian Breweries (NB Plc) reported a 10 percent decline in its half-year (H1) profits after tax to N21.477 bn, when compared to half-year (H1) 2014 profits after tax of N23.871 bn.

The profit and loss statement shows higher costs of sales, higher operating expenses and higher interest expense among others as contributing factors. The one bright spot was gross earnings, which grew by 7.19 percent to N151.673 bn, when compared to 2014 half-year results of N141.45 bn.