Nigerian Breweries Plc has recorded a stronger financial performance in the first half of 2026, with its group revenue rising to N804 billion, representing a 9 per cent increase from the N738 billion recorded during the same period in 2025.
The brewing company also said it has returned its retained earnings to a positive position, signalling further improvement in its financial position as it continues efforts to strengthen the business.
According to the company’s unaudited results released on the Nigerian Exchange Limited (NGX) for the period ended June 30, 2026, operating profit increased by 8 per cent, rising from N152 billion in the first half of 2025 to N164 billion.
The improvement came despite a 20 per cent increase in Selling, Distribution and Administration Expenses during the period.
Profit Before Tax Rises 18%
Nigerian Breweries also recorded an improvement in its net finance expenses, helping to push Profit Before Tax up by 18 per cent.
However, the implementation of new tax rates moderated the company’s Profit After Tax growth to 5 per cent, with net profit rising from N161 billion in the first half of 2025 to N193 billion in the corresponding period of 2026.
In a statement signed by the company’s Secretary and Legal Director, Uaboi Agbebaku, Nigerian Breweries said the performance reflected its resilience despite the difficult macroeconomic environment.
Agbebaku attributed the increase in revenue to the company’s revenue management strategies and other initiatives implemented to improve business performance.
He said continued investment in strategic brands, focused execution across the value chain and contributions from the company’s premium brands and malt category supported the result.
“Gross profit margin expanded by 2 percentage points with results from operating activities increasing by 8%,” Agbebaku said.
He added that Profit Before Tax increased by 18 per cent, supported by a 61 per cent reduction in net finance expense, while the new tax rates limited the growth in net profit to 5 per cent.
The latest results highlight the brewing company’s continued recovery as it navigates rising operating costs, macroeconomic pressures and changes in Nigeria’s business environment.
Source: Nigerian Breweries Plc/NGX.
