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 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 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.
