Champion Breweries Plc on Monday reported revenue growth of 46% for the nine months to the end of September. Sales grew to N4.8bn from N3.3bn in the same period in the previous year.
Gross profit was up 57% to N1.08bn. The company’s revenue was driven by increased selling and distribution cost, which rose by 37% to N864m, and by 66% in the third quarter alone.
Operating profit jumped by 158% to N407m. The company also benefitted from a 100% decrease in net finance cost.
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.
Champion Breweries Plc recently held its 2018 Distributors Award ceremony in Uyo, Akwa Ibom State, where dozens of distributors in different categories were rewarded with various gift prizes, including tricycles, fans, among others.
Speaking at the award ceremony, the Managing Director of Champion Breweries, Mr Patrick Ejidoh, said that for the first time since the company’s founding in 1979, it was becoming profitable and ready to start paying dividends to shareholders.
Champion Breweries Plc reported a 21% drop in profits for the first nine months of 2018 to ₦120 million. In the same period in 2017, the company earned ₦152 million. The profit decline accelerated in the third quarter by 40% to ₦40 million, from ₦66 million in the previous year.
The drop in earnings was attributed to disappointing sales despite higher selling and distribution expense. Net revenue declined by less than 1% in nine months to ₦3.2bn, but grew by 7.5% in the third quarter to ₦1.1bn.
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 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.
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 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 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 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.
