Champion Breweries Plc, on Friday reported a 70% rise in profit for the first quarter of 2018 to ₦67 million. In the same period last year, the company recorded ₦39.5 in profit.
The brewer best known for its Champion Lager and Champ malta drink was helped by a 2% growth in revenue to ₦1.1 billion and a 9.4% reduction in cost of sales. But the biggest impact to net profit came from increased selling and distribution expense which rose by 55.23% to ₦121 million.
Beta Glass Plc, said that first quarter sales grew 45% to ₦6.4bn, from ₦4.4bn in the preceding year.
The company which makes glass bottles and metal crowns for the beverage industry and others said that Operating Profit, which measures a business profitability after subtracting Operating Expenses but before interest and taxes surged 48% to ₦1.36bn from ₦916m, helped by the strong sales growth.
Cadbury Nigeria Plc, said if it wasn’t for soaring net finance charges, shareholders would have found more to cheer about in its first quarter results.
The Bournvita maker said that revenue grew 2% in the first three months of 2018 to ₦8.2bn, from ₦8bn in the previous year.
Guinness Nigeria Plc, on Friday reported results for the first nine months of its financial year through March 2018, with revenue rising 17.39% to ₦105bn from ₦90bn in the previous year, sustaining a growth momentum begun in June ending 2017, when the firm regained profitability.
