Daily Archives: February 11, 2016

Nigerian Breweries post 10.5% profit decline amid drop in consumer confidence, rising production cost

Nigerian Breweries Plc released its full-year financial results for 2015, showing a net profit decline of 10.5% to N38bn, from N42.5bn in 2014. However, sales revenue rose by 10.3% to N294bn, from N266bn in the previous year. The brewer saw a 43% jump in finance charges to N7.7bn, from N5.4bn in 2014.

Pretax profit also slid by 11.3% to N54.5bn, from N61.4bn in 2014.

Heineken posts 25% profit and higher revenue in full year 2015 results

Amsterdam-based Heineken N.V on Wednesday, reported a 25-per cent rise in net profits for full year 2015, on the back of higher revenue and favourable exchange rates in key markets.

The world’s third largest brewer reported higher profits in mature and cash strapped European markets which accounts for half of its revenue. The brewer saw higher profits in Poland, Spain, UK and France, which were driven by sales in premium beer and cider and helped by last summer’s good weather.