Champion Breweries Plc announced on Monday a 63% growth in net profit for the first quarter ending 31 March 2019. The company said that profit grew to N110m from N67.4m in the previous year, driven by a strong revenue growth of 61.3% to N1.8bn from N1.12bn.

The company which makes the Champion Lager beer and Champ Malt as well as serve as a contract manufacturer for Nigerian Breweries Plc saw a 53% rise in cost of sales to N1.2bn from N803m. Gross profit climbed a whopping 81% to N591m.

The company marketed itself out of a slump with a 150.1% growth in Selling & Distribution expense to N303m. Operating Profit grew by 63% to N157m.

Champion Breweries is based in Uyo, Akwa Ibom State and markets its products in Akwa Ibom and environ. The company is an indirect subsidiary of Dutch brewer Heineken N.V.