The Board of Directors of Nigerian Breweries has declared a profit of N29.6bn for the first half of the 2013 financial year. The unaudited and provisional result just released shows a seven per cent increase over the N28.5bn declared for the corresponding period in 2012.
The company’s turnover for the period also increased from N125billion in 2012 to N134billion in 2013.
A statement from the board said the company maintained its leadership position in the market in spite of the challenging economic and business environment in the first half of the financial year. This resulted in increased revenue versus the corresponding period of 2012 as well as an increase in the Results from Operating activities. Profit after Tax equally increased from N19billion in 2012 to N20.6billion in 2013.
The board statement, signed by Mr. Uaboi Agbebaku, the Company Secretary and Legal Adviser, said that though the operating environment is expected to remain challenging but, the Board is confident that the Company is prepared to take advantage of any growth in the market.