Nigerian Breweries Plc, said on Thursday that net profit for the full year 2017 grew 16.3% to ₦33bn ($91.6m). Revenue in the same period rose 9.8% to ₦344.5bn ($957m) from ₦313.7bn in 2016.

The company which is the Nigerian unit of Amsterdam-based Heineken NV said that despite improvement in the foreign exchange market, double-digit inflation continued to impact both businesses and consumers. However, it was able to deliver improved results through continuous focus and execution of its twin agenda of Cost Leadership and Market Leadership supported by Innovation.