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.

Champion Breweries manufactures Champion Lager beer and Champ Malta in Uyo, Akwa Ibom State. The products are marketed and distributed in the area and surrounding environs. The company is majorly owned by Raysun Nigeria Limited, a Heineken controlled company.

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