Nigerian Breweries Plc said on Wednesday its nine-month pretax profit fell by 11.8 percent, year-on-year, to N37.56bn ($188.76m). Third quarter profits (three months to September 30, 2015) also dropped year-on-year by 25 percent to N6.5bn.
The company said that revenue grew 10.4 percent to N214.92bn in the period ending September 30, 2015 and 19 percent for the quarter to N63bn.
Guinness Nigeria Plc has reported a 76 percent drop in net profits Year-on-Year for the three months ended September 30, 2015.
The company’s quarter result, which is the first quarter of its financial year ending June 30, 2015, showed a profit after tax (PAT) decline from N1.485bn in 2014 to N362.3m in the period under review. Its profit before tax (PBT) also fell by 74 percent from N1.963bn to N517.5m, while basic earnings per share declined by 76 percent from N94 to N22.
