Tag Archives: Champion Breweries

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.

Champion Breweries reports 15% rise in revenue for Q1 2016

Champion Breweries Plc, the Akwa-Ibom based brewer reported a 15% rise in sales for the first quarter ending 31 March 2016.

The brewer of Champion Lager saw its revenue rise to N872, from N757 in the same quarter in 2015.

Gross profit also rose 46% to N265m, from N182m in 2015.

Champion Breweries records 110% net profit in 2015 Full year

Champion Breweries Plc has just released its full year 2015 financial results, showing a 110% profit after tax to N77m. In the same period in 2014, the company posted N755m loss.

The huge leap in profits is attributable to a settlement of interests/finance charges of approximately N1bn paid by the company in the same period in 2014 to Ray Sun Nigerian Limited, its parent company for a rights issue of N11.6bn. There was no finance charge paid in 2015 fiscal year.

Champion Breweries appoints Aigbedo, Umanah as new Directors

Champion Breweries Plc has announced the appointments of two new directors of the company, Mr. Samson Aigbedo and Mrs. Helen Umanah. The appointments are to take effect on 3rd December 15, 2015.

Mr. Samson Aigbedo holds a degree in Biochemistry from University of IIorin, Nigeria. He started his professional career with Nigerian Breweries Plc, Ibadan in 1993 as a Brewer in charge of Bottling and has spent over twenty years in the same company occupying various positions. He was the Head of Brewery Operations at the Company’s headquarters in Lagos before this appointment.

Champion Breweries posts 9-months pretax profit of 104.66%

Shareholders of Champion Breweries, the Akwa Ibom based brewer have something to smile about as the company’s released unaudited financial results for the 9-months ending 30 September, 2015 show a 104.66 percent rise in pretax profit to N62,590m. In the same period in 2014, the company recorded a N1.344bn loss. Net profit also rose by 103.26 percent to N43,810m for the period under review.

Champion’s revenue for 9-months ending 30 September 2015 rose 3.94 percent to N2.27bn, from N2.18bn in the preceding year.

Champion Breweries net profit rises 102.35% in half year (H1) 2015 results

Champion Breweries Plc, the Akwa Ibom based brewer that is majorly owned by Raysun Nigeria Limited, a holding company controlled by Heineken N.V, the parent company of Nigerian Breweries Plc reported a profit before tax of N20.829 million and profit after tax (PAT) of N14.579 million in its half year results for period ended June 30, 2015. In the same period in 2014, the company recorded a loss of N884.712 million.

Champion’s revenue for (H1 2015) rose 14 percent to N1.596 billion, from N1.4 billion from the same period in 2014.

Champion Breweries posted a N9.2 million profit in (Q1) 2015 results

Champion Breweries Plc, the Akwa-Ibom based brewer said that it recorded a 9.2 million profit after tax (PAT) in the first quarter or period ending March 31, 2015, compared to a (N391.50) million loss it recorded for the same quarter in 2014.

In addition, the company reported a profit before tax (PBT) of N13.4 million for the first quarter (Q1), compared to a loss of (N391.50) million in the preceding year.

Revenue grew by 41.01 percent to N245.6 million, compared to N174.2 million it earned for the same quarter in 2014.

Champion Breweries records N754 million loss in (Q4) 2014 on high production and borrowing cost

Champion Breweries Plc, the Akwa-Ibom based brewer reported a N754 million loss in its fourth quarter 2014 results.

High production costs and skyrocketing interest expense were to blame for the loss as decelerating beer volume growth this year is expected to slow the beer market.

The devaluation of the naira has impacted negatively on breweries as it exposed them to foreign currency risks as some ingredients used in beer manufacturing like barley are imported.

“We imagine that most of these firms will struggle to survive daunting pressure on costs, occasioned by the naira volatility and the pass-through impact of naira depreciation, “said Saheed Bashir, analyst at Meristem Securities Limited.