Champion Breweries profit surge in half-year, lifted by strong sales growth

Champion Breweries Plc, reported over 650% growth in net profit for the six months to the end of June, bolstered by strong sales growth.

Net profit was up N99m from N13m in the previous year, driven by a sales jump of 54% to N1.62bn.

The maker of Champion Lager and Champ Malta saw a 39% spike in cost of sales, with gross profit rising 84% to N640m.

Administrative expenses spiked 85% to N231m, while Operating Profit skyrocketed over 2,200% to N141.4m

Champion Breweries is based in Uyo, Akwa Ibom State and produces its namesake lager, Champion Lager and Champ Malta. The company is an indirect subsidiary of Heineken N.V.

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