Q1 2026: Nigerian Breweries declares 14.9% growth in profit
Nigerian Breweries Plc on Thursday declared 14.9 per cent increase in profit before tax to N80.4 billion in the first quarter (Q1) ended March 31, 2026 from N69.99 billion reported in the first quarter ended March 31, 2025.
The multinational company closed Q1 2026 with a revenue increase of 7.7 per cent to N413.02billion from N383.98 billion in Q1 2025.
The Company Secretary, Nigerian Breweries, Uaboi Agbebaku, in a statement said the company delivered a strong performance in the quarter, sustaining the 2025 recovery journey. This was despite the fragile and volatile operating environment which was exacerbated by the crisis in the Middle East.
“Group revenue grew by eight per cent, supported by strong revenue management, the performance of the premium brands led by Heineken lager and execution of growth initiatives. Profitability was strengthened on the back of a disciplined cost management with gross profit growing by eight per cent.
“This, together with a reduction in the net finance expenses led to the 26per cent growth in the net Profit.
“The balance sheet remained strong, with continuing improvement in liquidity. Stronger cash position supported the recent settlement of outstanding borrowings, thereby strengthening the Company’s financial position.”
The statement added that “The Board and Management remain focused on execution excellence, revenue optimisation, cost control, and efficient cash management to sustain the momentum and deliver long-term stakeholder value.
“In view of the Middle East crisis, the Company has also intensified focus on risk management by reviewing downside scenarios and implementing mitigations across key exposures to protect performance and preserve financial flexibility.”
