Champion Breweries posts 7% profit decline in half year as costs rise

champion lager and champ malta

Champion Breweries plc, said that net profit for the six months to the end of June 2018 fell by 6.53% to N80.5m from N86m in the same period in 2017.

The Akwa Ibom based brewer blamed the decline on rising cost of selling and distribution expenses, which rose 95% in the period to N347m. The second quarter saw a 127% spike in selling and distribution cost to N226m.

The company noted that its revenue declined marginally in the period by 4% to N1.05bn from N1.2bn.

Leave a Reply

Your email address will not be published. Required fields are marked *