Tag Archives: Champion Breweries

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

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.

Champion Breweries reports strong profit growth in first quarter

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.

Profits down at Champion Breweries amid rising cost

Champion Breweries Plc, on Monday reported a 2.4% drop in profit for the 2017 full year through December. Profit fell to ₦518m from ₦530m in 2016.

The decline in profit was blamed on a spike in administrative expenses which grew by 157% to N412m. Selling & Distribution expenses also increased by 30% to ₦417m from ₦322m in the previous year.

Despite the profit decline, the company reported a 24% growth in revenue to ₦4.8bn. In the same period in 2016, the firm recorded net revenue of ₦3.9bn.

Champion Breweries records 57% profit growth in nine months

Champion Breweries Plc said on Tuesday that net profit for the nine months to the end of September grew 57% to ₦152m ($419,000), up from ₦97m ($267,000) in 2016.

The Akwa Ibom-based brewer said that profit growth was helped by a 25% sales lift which reached ₦3.3bn ($9 million) from ₦2.7bn ($7.4 million) in the previous year. Cost of sales grew marginally at 13.5% to ₦2.5bn ($6.9 million), helping boost Gross profit 58% and Operating Profit 73% to ₦171m ($471,000).

Champion Breweries returns to growth with 9% profit rise in half-year

Champion Breweries Plc, the Akwa Ibom-based brewer reported a 9% growth in net profit for the six months ended 30th June. The company’s net earnings rose to N86m ($237,500) from N79m ($218,000) in the previous year. In the three months to the end of June, profit soared 114% to 47m, from N22m.

The profit rise came on the back of a 25% surge in sales in the six months to end of June as sales reached N2.3bn ($6.4m) from N1.8bn ($5m) in 2016. At the same time, cost of sales grew 33% reflecting higher input costs and inflation. However, the firm kept a lid on expenses as selling and administrative expenses stayed nearly the same from the previous year.

Champion Breweries suffers profit decline in Q1 despite sales growth

Champion Breweries Plc, said on Thursday that first quarter revenue (Jan – Mar 2017) grew 27% to N1.1bn, up from N872m in 2016.

Despite the sales growth, the firm which is Heineken controlled said that net profit fell 31% to nearly N40bn due to higher production costs caused by inflation and a weakened naira.

Cost of sales rose 46.2% in the period to N886m, from N606m in the previous year.

Champion Breweries finishes year stronger

Champion Breweries on Monday reported its full year results for 2016 with net income surging 203% to N530m, from N77m in the previous year.

The maker of Champ Beer and champ malt saw a 10.37% rise in revenue for the year to N3.9bn, from N3.5bn in 2015.

While selling and distribution expenses rose 26% to N322m, from N256m in the previous year, administrative expenses fell 73% to N160m in the period under review.

Champion Breweries earnings decline 38% in Q3 despite strong growth

Champion Breweries Plc, the Akwa Ibom-based brewer said on Tuesday that net income fell 38% in the third quarter ending 30th September, due to higher production costs and a spike in selling and distribution expenses. Cost of sales rose 30% in the third quarter to N636m, from N489m in the same period last year.

Champion Breweries appoints Patrick Ejidoh as new Managing Director

Champion Breweries Plc, the Uyo, Akwa Ibom based brewer has appointed Patrick Ejidoh as its new Managing Director.

Mr. Ejidor takes over from Sharm Ganesh Kulkarm, who is retiring after 28 years in Nigeria, four of which was spent as Managing Director of Champion Breweries. Ejidoh holds a Masters of Business Administration (MBA) and had been the Public Affairs Manager, East for Nigerian Breweries Plc up until his recent appointment.

At a ceremony organized by the company in Uyo, Ejidoh promised to maintain the company’s profitability in managing the brewery while ensuring the optimal welfare of the employees.

Champion Breweries half-year revenue and profit rise

Champion Breweries Plc on Wednesday reported N79m net profit for the first-half of 2016, a 441% increase from last year when it earned N15m.

The Akwa Ibom based brewer said that revenue for the period grew 15% to N1.8bn, up from N1.6bn in the previous year.

The company also posted impressive results in the quarter under review, with net profit rising 305% to N22m on N958m revenue.