Nigerian Breweries Records N151bn Revenue, N5.7bn PAT
Nigerian Breweries Plc has recorded a revenue of N152 billion, down from N170.2 billion in the corresponding period of 2019. Profit before tax fell 57 per cent from N19.4 billion to N8.3 billion, while profit after tax (PAT) declined from N13.3 billion to N5.6 billion in 2020.
According to the company, the half-year results for the 2020 financial year show a strong balance sheet despite several factors that negatively impacted on its operations. The factors include: an increase in Excise Duty, a rise in inflation, an increase in VAT from 5.0 per cent to 7.5 per cent and the impact of the coronavirus (Covid-19) pandemic on businesses worldwide.
The company said its priority during this period “remains ensuring the health, safety and welfare of employees, customers and partners.”
Related Posts
Standard Bank unites Namibia corporates for affordable housing tournament
Standard Bank Namibia’s Corporate and Investment Banking division has successfully hosted the third annual Padel for Purpose fundraising…
By
Kenya Power posts KSh24.99bn as revenue climbs 8.6% in FY2026
Kenya Power and Lighting Company PLC (Kenya Power) has reported a 2.1% increase in profit after tax to…
Standard Bank Namibia, NAMCOL partner on employee value banking
The Namibia College of Open Learning (NAMCOL) and Standard Bank Namibia have strengthened their strategic partnership through a…
KNCCI, Sidian Bank to boost SME and MSME financing
The Kenya National Chamber of Commerce and Industry (KNCCI) has engaged Sidian Bank in high-level discussions to strengthen…
Gallery
